William Grant CEO on the ‘bright’ future of Scotch

17th February, 2014 by Amy Hopkins

The future of whisky looks bright, driven by consumers’ growing thirst for “products with stories”, according to Stella David, CEO of William Grant & Sons.

Stella-David

For Stella David, CEO of William Grant & Sons, whisky fans “don’t just drink the liquid, they drink the story”

In a rare interview, David, who joined independent spirits company William Grant & Sons in 2009, told The Spirits Business that despite the slowdown of high-end Scotch in China, the category “is doing very well around the world and has plenty of opportunities for growth”.

In particular, she notes that in order to maintain consumer interest, spirits companies must strive to innovate and pursue a “long-term vision”, drawing on the heritage of their brands.

“In today’s marketplace, consumers want to be entertained and have great products,” she said.

“To do this, innovation must be at the centre of a company’s long-term strategy. The willingness to sit and wait for innovation is something we feel we need to do at William Grant & Sons.

“Take the Girvan Patent Still – this type of innovation is so important in maintaining a high level of interest in the industry, allowing it to thrive.”

In October last year, William Grant, maker of Glenfiddich and The Balvenie, released a “brave” new brand of single grain Scotch whisky in a bid to pioneer a new spirit category, called Girvan Patent Still.

The whisky is produced at the Girvan Distillery in the Lowlands, normally used to create grain whisky for Grant’s blended Scotch.

But, for David, this innovation extends beyond the liquid and into the realm of marketing.

“These days, you need a great quality liquid in great quality packaging. People don’t just drink the liquid, they drink the story. These days, in a massively competitive environment, there’s a need to add value to a product.

“It’s about what’s in the glass, but it’s also about the heritage of the brand. These elements mean that brands stay relevant and interest remains high.”

David added that it is this focus on communicating heritage which means “there’s more interest in Scotch than vodka” because “people really get very passionately engaged in the whisky”.

This level of consumer engagement allowed William Grant & Sons to report another “record year” in October 2013 after its sales topped £1 billion for the second year running.

But for David, financial results are not the long-term goal.

“Our sole focus isn’t on quarterly results. It’s about doing the right thing and building the business without dancing to the tune of other companies,” she said.

“Of course, this is not to say that results don’t matter in some way or that we can relax, we just focus on what we see as important for the future of the business.”

Leave a Reply

If that's interesting, how about these?

LVMH bolstered by China 'normalisation'

Reported sales for LVMH's Wine & Spirits division grew 16% in 2015 to more...

SWA meets with Treasury over tax 'burden'

Representatives from Scotch Whisky Association have met with the UK Treasury to more...

Douglas Laing rebrands Provenance range

Douglas Laing has unveiled new packaging for its Provenance Single Cask Scotch more...

Top 50 most innovative spirits launches of 2015: 20-11

Cannabis-flavoured vodka, deconstructed whisky, and bitters made from "hand more...

Top 50 most innovative spirits launches of 2015: 10-1

Toasted cricket bitters, spirit distilled from tea leaves and Italy's first more...

Benromach launches 'rare' 35-year-old whisky

The Benromach Distillery Company has released one of its “rarest expressions more...

Grant's opens Elementary activation in French airports

William Grant & Sons has partnered with Lagardère Travel Retail to launch more...

Balblair releases 2005 vintage

International Beverage-owned Balbair has introduced Vintage 2005, a new more...

United Spirits net sales slip 45% in Q3

United Spirits’ standalone net profit for its third financial quarter ending more...

Quintessential takes gin distribution in-house

London-based drinks group Quintessential Brands will take on-trade distribution more...

Breakthru makes first senior sales appointments

Newly formed US drinks distribution company Breakthru Beverage Group has more...

Top 10 spirits marketing campaigns in January 2016

In this latest batch of spirits industry marketing campaigns, Hollywood actress more...

Liquid Riot branches out into amaro category

Maine-based distiller and brewer Liquid Riot Bottling Company has expanded its more...

Top 50 most innovative spirits launches of 2015: 30-21

Historic recipe replicas, high-end collaborations, and “the shot to end all more...

Market for rare whisky 'exceeds all forecasts'

The rare whisky market experienced a “record” year in 2015, with the value more...

‘Transformational’ Conviviality sees H1 revenues soar 38%

Leading UK alcohol wholesaler Conviviality Plc has posted a 38% increase in more...

SWA urges government to 'stand up for Scotch'

The SWA is urging the UK government to “stand up for Scotch” and lower more...

Diageo in strategy 'shift' to 'mainstream' brands

In light of ongoing economic volatility in the emerging markets, Diageo is more...

William Grant 'evolves' US commercial team

Glenfiddich Scotch whisky maker William Grant & Sons is targeting “continued more...

Scotch and baijiu among 'most valuable' brands

Two spirits brands have appeared in the new Global 500 list that counts down more...