Richard Foster joins Still in Cask

The co-founder of Exploring English Whisky, Richard Foster, has joined online marketplace Still in Cask as a minority shareholder.

Foster will also be the platform’s director of sales and marketing and brings a ‘wealth of experience’ to the company, having built the in-house agency at Diageo’s London HQ alongside his role as founder of Exploring English Whisky.

Foster will be tasked with growing Still in Cask’s presence across social media, customer relationship management (CRM) and paid advertising.

He said: “I’m incredibly excited to be asked to join the Still in Cask team. The future of whisky and aged spirits is hugely exciting, but this platform focuses on consumers who wish to drink, share and enjoy amazing spirits rather than invest in them for potential gain.

“While the investor market is currently well-served, few platforms offer the ability for anyone to own a piece of a cask simply and securely. I’m also energised by the direct-to-consumer revenue opportunities we can offer distilleries in these challenging times for the industry.

“I very much hope my role will help bring new distilleries and their casks to the platform for our current and future shareowners to enjoy.”

Still in Cask was co-founded in September 2020 by Circumstance Distillery owner Liam Hirt, alongside Zak Hirt, Danny Walker and Illy Jaffa. The platform went live in May 2021.

It boasts 27 casks from 15 UK and European distilleries, and plans to double that through 2024.

Whisky for drinking, not investing

The platform allows distilleries and brands to sell shares in casks directly to the public. The aim is to support young and expanding distilleries before their spirits are ready to bottle.

The process is managed through Stellar Blockchain technology: customers purchase a token, which can then be redeemed against a bottle of spirit from a particular cask once it’s matured and bottled.

Customers can then curate their own ‘virtual cellar’ of maturing spirits from around the world. Besides whisky, all cask-aged spirits are featured, including rum and brandy.

The company said the platform gives producers early cash flow and drinkers a chance to own a small piece of that distillery’s future, which guarantees an early-release bottle from a single cask.

There are limits on the number of bottles one can purchase (currently six per person) and customers cannot buy a whole cask or sell their shares prior to bottling.

Liam Hirt added: “We are thrilled to welcome Richard to our team as our sales and marketing director. With a proven track record of driving successful strategies in the beverage industry, we know Richard will play a pivotal role in expanding our reach and promoting our unique offering.

“Richard’s passion for innovation and deep understanding of the market make him an excellent addition to our company. We look forward to achieving new heights together in the world of cask shares.”

Still in Cask was created as a counter to a growing number of fraudulent cask investment firms. The UK’s advertising watchdog published an enforcement notice to clamp down on ‘misleading’ whisky cask investment ads last year.