Record trading results for Brockmans Gin
Financial Highlights for year ending 31 December 2016
Total revenue UP 87% to £5.4m (2015: £2.9m)
UK revenue UP 245%
Sales in Spain UP 56%
USA sales UP 66%
Rest of the World revenue UP 145%
Operational Highlights
Sales volumes in 2016 increased 67% to more than 40,000 9-litre cases – equivalent to almost 15m single measures of gin.
More than 50 new supply agreements in the UK including Punch Taverns, Harvey Nichols and Marks & Spencer
More than 100,000 customers sampled the brand at Gin Festival events in the UK
New distribution agreement signed with Osborne Distribuidora SA in Spain
Fastest-growing super-premium gin in Spain
In the US, No 4 super-premium gin in New York
Entered 11 new international markets including France, Sweden, Dubai and Indonesia
Now sells in 27 countries across the globe
Brockmans Gin Limited, the creator of the multi-award winning British super-premium Brockmans brand, reveals record results for 2016.
Total revenue grew 87% to £5.4million as the company grew like-for-like sales with current customers, won new listings in existing markets and continued to expand internationally.
Growth remains particularly strong in the UK, with the business growing faster than the sector. The industry saw sales exceed £1billion for the first time in 2016. Brockmans reached new agreements and is listed by Punch Taverns, Wine Rack, Harvey Nichols and 115 branches of Marks & Spencer. The group also had great success at a series of Gin Festivals in around 30 towns and cities, helping UK revenues leap 245% in the period. Brockmans has expressed confidence that 2017 will deliver another strong performance in the UK.
The company also continued its expansion overseas, entering a number of new markets. This meant more than 80% of revenue comes from overseas and Brockmans has seven new territories expected to go live by the summer.
Brockmans is the fastest-growing super-premium gin brand in the Spanish market, according to AC Nielsen data, having grown at an average annual rate of 60% since launching there in 2010. Management believe this will accelerate after a new distribution agreement with leading Spanish drinks company Osborne Distribuidora SA, was signed in May. This covers the Balearic and Canary Islands, Gibraltar and Andorra as well as mainland Spain. The collaboration saw the company record its best month of sales ever in Spain, in July.
The brand has also had a big push in the US with its first-ever advertising campaign featuring posters on phone kiosks in Manhattan close to bars that stock the brand, and Brockmans is already the fourth best-selling gin in its category in New York.
First launched in the UK in 2008, Brockmans has an average annual growth rate in the seven years since its launch of over 100%.
Assisted by the growing popularity of premium tonics and the resurgence of classic gin-based cocktails, it has captured the imaginations of new, younger consumers.
Neil Everitt, Brockmans’ joint founder and chief executive, said the group was seven years in to a 10-year plan to boost sales to 100,000 cases a year.
“We saw strong sales growth in our existing, core markets and also expanded into exciting new markets.
“Our home market of the UK was the real star turn with volumes boosted by more than 50 new retail and wholesale customers. The UK market for super-premium gin is expected to have overtaken Spain during 2016 and is forecast to keep growing rapidly. That trend, combined with Brockmans’ own continued rapid growth, will likely make the UK our biggest market within the next few years.
“In the USA, Brockmans is either the fastest or second-fastest growing brand in each of the states we are operating in, after just two years. This gives us confidence to plant the Brockmans’ flag in other parts of the country, which we will do.“
