Younger investors boost VCL Vintners’ cask sales
Whisky barrel broker VCL Vintners saw sales increase 300% in 2020 as whole cask investments attracted new and younger buyers.
London-based VCL Vintners saw its sales increase by more than 300% year on year between January 2020 and January 2021. The company also reported that new account openings were up 720%.
According to VCL, 94% of new enquiries for the period were from investors completely new to whisky investment, and 56% of all casks sold in the past three months were to clients aged between 18 and 44.
Stuart Thom, director of VCL Vintners, said: “Whisky is becoming ubiquitous in private buyers’ portfolio construction and it’s encouraging that the demographic is becoming a smarter, younger city audience with longer investment horizons. We don’t view whisky investing as being an in-out asset.
“We’re seeing a lot of city interest at the moment from investment bankers and brokers looking to cornerstone their portfolios with whisky for the capital appreciation that shows no signs of slowing. With the markets going sideways for now and a tech bubble being rumoured in the States, whisky is being seen more and more as a stable long-term investment.
“Plus, there’s the pure interest factor – clients get immersed in whisky and although the research shows they’re not emotional when they start, these investments quickly become ones that people truly love over time.”
Founded in 2010, VCL Vintners sources and manages single malt Scotch whisky casks. The company currently holds £70 million (US$97m) worth of whisky under its management, and is aiming to increase its management stock to £300m (US$417m) in the next 15 years.