Edrington hails ‘landmark year’ in TRBy Kristiane Sherry
Edrington Global Travel Retail (GTR) has seen an “extremely positive” 2014/15, with double-digit revenue growth recorded across its travel retail whisky portfolio, says the company.
Stand-out performers were Edrington’s two single malt brands Highland Park and The Macallan, with year-on-year shipments up 33% and 14% respectively.
The company’s TR business now accounts for 10% of overall revenues and outperformed domestic sales, with “exceptional” growth of 40% noted across the Americas.
Edrington has significantly restructured its travel retail business over the last 18 months. The company launched its dedicated GTR unit, based in Singapore, in 2014. In January 2015, the company set up a new joint venture with World Equity Brand Builders (WEBB) to serve travel retail markets in the Americas and the Caribbean. This was followed by the creation of Edrington European Travel Retail in April 2015, after Maxxium Travel Retail, the Edrington-Beam joint venture, ceased operations.
Ongoing travel retail business units include Edrington Asia Travel Retail, again based in Singapore, and Edrington FIX Middle East, a joint venture with FIX Wines & Spirits, formed in 2013.
“Travel Retail remains a hugely strategic and important channel for Edrington, both in revenue terms and also through the exposure and touch points it gives us to an unrivalled consumer mix,” said Tellis Baroutsis, managing director, Edrington Global Travel Retail.
“Over the last 18 months we have taken huge strides forward, putting in place a new structure which moves Edrington much closer to our customers and consumers, and positions us to accelerate our momentum in several key growth markets. We are committed to fuelling that growth through continued innovation – at both a brand and retail level – investment, and partnership, all of which are key to attracting new consumers and maintaining the loyalty of existing ones.”
Edrington exhibited a number of new products at the recent TFWA World Exhibition & Conference, including The Macallan Rare Cask Black, Highland Park King Christian I, and Cutty Sark 33-Year-Old.