Authors’ Distillery seeks €1m to internationalise

Finnish spirits producer Authors’ Distillery is looking to raise more than €1 million (US$994,525) via crowdfunding to internationalise the company.

Authors’ Distillery is looking to raise the money via crowdfunding platform Invesdor. At the time of writing, €126,841.72 has already been invested.

Best-selling authors Christian Rönnbacka, Tuomas Kyrö, Soili Pohjalainen, and actor-writer Mikko Leppilampi founded Authors’ Distillery in 2019.

The distillery produces a range of award-winning products, including Readers’ Gin, Readers’ Rum, and Gin & Tonic.

The company estimates that the combined global market for premium gin and rum is approximately €5 billion (US$4.97bn).

Sales efforts are currently focused on the producer’s native market, Finland. The investment will help the distillery expand overseas.

The company’s existing production capacity is enough to meet local demand in Finland. However, as the firm expands, production will be increased through a licensing model.

As Authors’ Distillery does not believe it is profitable to export alcohol made in Finland in large quantities overseas, it will recruit a third-party distiller in each new market to recreate its flagship products for the region.

The franchise agreement will give each local licensee full access to Authors’ Distillery’s business concept.

Authors’ Distillery aims to launch a licensing model in Sweden in 2023, building on the ‘strong networks’ of CEO Anne Pekkanen.

Storage capacity will also need to be increased, the distillery noted.

Further details of the crowdfunding initiative can be found on invesdor.com.

In other investment news, earlier this month English spirits maker the Cotswolds Distillery secured £3m (US$3.6m) in funding.

Furthermore, Welsh distiller Penderyn is planning its third site in Swansea thanks to local council funding.