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Scotch Malt Whisky Society launches new subsidiary in Taiwan
The Artisanal Spirits Company, owner of the Scotch Malt Whisky Society (SMWS), has announced the launch of a new subsidiary in Taiwan, the latest step in the group’s strategic expansion in Asia.
The new deal replaces the group’s existing franchise agreement and provides the SMWS with direct sales access to the Taiwanese market.
Taiwan is the world’s third-largest market for Ultra-Premium Scotch Whisky, based on value, with an estimated total addressable market of US$593 million, according to 2022 figures from IWSR.
Andrew Dane, CEO of The Artisanal Spirits Company, called Taiwan “one of the world’s largest and most sophisticated whisky markets”.
Dane described the new subsidiary in Taiwan as “a key strategic objective” for the group in 2023.
In the first day of trading, SMWS Taiwan enrolled 500 paying members, the group reported. It now plans to drive sales through the SMWS website, in-person events, digital marketing and social media.
Under the terms of the agreement, the Group will hold 70% ownership of the entity. The subsidiary will be led by country director Murphy Chang, former Brand Heritage Manager for Moët Hennessy Taiwan, who will have operational responsibility. Eric Huang, the former franchise partner, has been appointed as SMWS president and Artisanal Spirits Company CEO Andrew Dane will act as chair of the Taiwan entity.
SMWS now has a presence in the world’s six largest markets.
The Taiwanese subsidiary is the latest step in the group’s strategic expansion across Asia. SMWS already has similar subsidiary operations in China and Japan as well as franchise partners in a range of markets, including new partners in Malaysia, and a recently established franchise agreement in South Korea.
Dane said: “We now have an SMWS presence in the world’s six largest markets and our full global footprint giving us coverage of over 80% of the $8.1 billion ultra-premium Scotch whisky market (2022 IWSR). We look forward to welcoming many new members to the Scotch Malt Whisky Society in this market as we continue to expand our reach across Asia.”
In other news, the Scotch Whisky Association received trademark protection for Scotch products earlier this week. Read more here.