Booker’s Bourbon staggers 69% price hike

Beam Suntory has clarified the new pricing strategy for Bourbon brand Booker’s, after news broke that its RRP would rise from US$59.99 to US$99.99.

The price of Booker’s will rise to US$99.99 ‘over time’

Citing supply shortages as the catalyst for the rise, Beam Suntory confirmed to The Spirits Business that the price of Booker’s Bourbon, which is produced at the firm’s Jim Beam Distillery, will initially rise to US$69.99-$74.99 in 2017.

The firm also confirmed that the plan to reduce the number of annual releases of Booker’s from six to four will stand.

“As we’ve previously shared, Booker’s Bourbon will experience supply constraints this year,” a spokesperson from Beam Suntory confirmed.

“As a result, we must reduce our batch releases to four per year. We apologise to anyone who is unable to locate the product in the future.

“Because of the rarity and high quality of this liquid, and our need to maintain our supply without sacrificing any production standards, we have decided to increase the price of Booker’s.

“We’ll be implementing the previously announced price increase over time, and in 2017 you can expect to see Booker’s on shelf for US$69.99-$74.99.

“We would like to thank our friends and fans for their ongoing support, and we promise to maintain the same quality standards that Booker demanded of his namesake bourbon despite our supply challenges.”

At the end of 2016, Beam Suntory announced plans to invest more than US$1 billion in Kentucky Bourbon production over the next five years – at the same time opening a new seven-storey rackhouse that can house more than 59,000 barrels