31 Jul Our big night at the UK Business Awards
In 2018, Jay Bradley, Scott Sciberras, and I spotted the early potential of bringing cask investment to the mainstream and founded Whiskey & Wealth Club. We aimed to allow investors the opportunity to invest in cask whiskey, whilst also supporting the whiskey industry and distilleries.
We became one of the first whiskey investment companies to bridge the gap between distilleries and private investors. Our model allows us to purchase a percentage of a distillery’s new make production, giving them the necessary working capital for the year. We also allow investors the opportunity to benefit financially from the whiskey industry. Previously this has not been possible.
Fast-forward three years, we have gone from strength to strength and were commended at the 2020 UK Business Awards (UKBA), underlining our success. Whisky & Wealth Club has grown from humble beginnings from a team of three to 30 dedicated and passionate members. We are now an established leader in the cask whiskey investment market.
Our big awards night
The UK Business Awards honours the finest accomplishments from British businesses. Recognising organisations, teams and individuals shaping the future of business.
This year’s event was different and hosted entirely virtually due to the Coronavirus, however that didn’t stop us from enjoying the night after we won four awards.
Whiskey & Wealth Club won the top prize in the best new business and best insurance/banking and financial services categories. We also won silver for best SME. Not only that but my friend and our co-founder, Jay Bradley, was recognised as a leader for the future.
Fellow 2020 winners include Asda and organisations like The Greater Manchester Police. It was enough of an honour to have been nominated amongst some of the best companies in Britain. To win in four categories was extremely special and just goes to highlight our business excellence and success, not forgetting the incredible work of our dedicated team who have made this all possible.
The growing whisk(e)y industry
The sale of Irish whiskey industry has grown exponentially in the last decade. This is what makes it so appealing to investors.
Since the start of the year, we have observed that cask whiskey’s favourability with investors has grown despite the economic uncertainty. A total of 258.5 pallets of Scottish, Irish and American whisk(e)y have been purchased since lockdown began.
Traditional financial markets across the world have fluctuated as a result of the coronavirus pandemic, which has seen the UK economy shrink by a record 20%. As such, asset-backed investments have become an attractive alternative for investors. The investments are not tied to financial markets and give investors full ownership and titles to casks which are stored in bonded warehouses for the ageing process, typically five to 10 years.
Whisk(e)y investment has continually grown in popularity over the last couple of years. This year, rare whisky topped the Knight Frank Luxury Investment Index, rising by 564% in value over the last decade.
Last year, we successfully launched into the Scottish whiskey market. We intend to enter growing whisky markets in Japan and the USA. Growth has always been central to our business. In our first full year, we achieved a turnover of €10 million. Now in our third year, Whiskey & Wealth Club is projected to hit €22-€24 million by the end of the year. We plan on growing even further in 2021.
At Whiskey & Wealth Club, we allow investors to purchase casks of premium Scotch whisky and Irish whiskey direct from leading distillers at ultra-wholesale rates. The casks are then stored in a secure bonded warehouse to mature for at least five years, before selling for a profit or bottling. Allowing us to establish relationships with our clients, updating every step of the way. As reflected in the 100 plus five-star reviews we have on Trustpilot.