With its equity crowdfunding campaign on Crowdcube set to close later this week, the Cotswolds Distillery has successfully secured nearly £2.5 million through the funding round from more than a 1,000 backers.
As previously reported, the Distillery, which was founded in 2013 and began operations in September 2014, produces maturing stocks of whiskey at the rate of 175,000 bottles equivalent per annum and has introduced a range of other branded spirits to the market including gin, espresso martini, liqueurs, and fruit brandies. The distillery revealed it sells over 100,000 bottles of its Cotswolds Dry Gin, which was named ‘World’s Best London Dry Gin’ at the 2016 World Gin Awards, in 16 countries worldwide.
“We now have the capacity to produce 1 million bottles a year to meet future demand, and are recognised as one of the most highly rated craft distilleries in the world. We continue to experience strong growth; our sales increased 75% to £3.1 million for calendar year 2017. By comparison, the UK gin market grew 27% over the same period.”
Cotswolds also stated a breakdown of where the funds from the Crowdcube campaign will go:
- Build its brand by accelerating investment in advertising and promotion
- Deepen its sales and distribution network
- Build an inspiring new visitor center to be its ‘brand home’
Those who invest in the campaign will receive a lifetime 10% discount through the Cotswold’s online shop. The funding round is currently scheduled to close on Wednesday.
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