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Beamish International toasts £15million in rare whisky sales
Edinburgh-based private client company, Beamish International, which advises private clients across the world on rare whisky acquisitions, has seen turnover rise 34% to £15 million over the last year.
The company reported 34% growth in primary market sales in the year to 30 April 2022, with notable growth across Southeast Asia, where ultra-high net worth collectors are snapping up single malt Scotch both in the form of casks as well as high value bottles.
This marks a five fold increase in revenues, since the end of its first year in 2018.
Sales have also been propelled by wealthy individuals in China and the USA purchasing Scotch whisky to collect, consume and gift, the company added.
Toasting the company leaping ahead of market trends, CEO Charles Beamish said the results had exceeded expectations – but that the model was likely to deliver further substantial growth over the coming years.
“Market demand is chiefly coming from Southeast Asia, China and USA, with high-net-worth individuals wishing to buy primarily for gifting, consumption and collecting purposes,” he said. “Our ambitious growth trajectory and planned diversification of services reflects this rising market demand and makes us forensically focussed on the customer service experience for our private clients.”
He added that this was possible due to the company’s “unique” position and close relationships with brand owners, which allowed it access to offer “the rarest stocks available”.
The company has also announced its intention to implement several new services over the next 12 months, including technology-led asset management, specialised storage solutions for spirits and auction representation.
However, perhaps the most significant development, due to be introduced in Autumn 2022, is the launch of a digital platform where Beamish can engage directly with private clients directly and assist them with asset management.
Beamish has also added rare allocations of stock to its portfolio from closed distilleries such as Rosebank, Littlemill and Ladyburn.
CEO Charles Beamish originally founded the company after setting up the first pilot private client cask sales business for Whyte & Mackay in 2016. The business has focused on private clients, and says that its direct-to-distillery model helping to overcome issues surrounding the procurement of finite stocks.
Charles MacLean, the leading authority on Scotch whisky, verifies the provenance of the drinks sold.
Rare whisky is a boom area for investment, ahead of fine wine according to a recent report by Knight Frank.
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