Mackmyra intros cask-buying scheme

Swedish whisky producer Mackmyra launched a cask-buying scheme for consumers during its 2016 fiscal year, an offer that raised SEK3.5 million (US$389,000) to boost cash flow.

Launched under the Casks & Experiences segment, the cask ownership scheme gave interested consumers the opportunity to reserve nine-year-old, 200-litre casks that will be bottled in 2022 as the distillery’s first 15-year-old whisky.

CEO Magnus Dandanell said the scheme was “extremely successful”, and formed part of the Cask & Experiences business arm to raise awareness of the Mackmyra brand.

The funds raised were not declared as revenue, he continued, but instead earmarked to help cash flow.

“The example shows the strength of a large and older maturing stock,” explained Dandanell. “The large and relatively old maturing stock gives Mackmyra a unique position among the fast-growing phenomenon of new-world whisky/craft whisky distilleries seen in the Nordic countries as well as worldwide.

“The background to this competitive advantage is that Mackmyra had a relative head start and began to invest large amounts early on in maturing stock capacity.”

The Mackmyra team will feel confident in the demand for its older stock. On 16 February 2017, the brand released 1,500 bottles of its first 12-year-old, Mackmyra TOLV, which sold out “in minutes” despite a SEK1,200 (US$133) price tag, Dandanell said.

Mackmyra recently announced its fiscal 2016 financial results which saw sales climb 18% to SEK73.4 million (about US$8.1m) for the year. In its statement, the company noted its third-party, private label division was a “strong contributor” to the improved cash flow.