Putting Kinsale on the map for Irish gin and whiskey

Based in one of Ireland’s most vibrant and beautiful coastal towns, Kinsale Spirit Company has come on leaps and bounds since it started selling gin in 2017.

With over €2 million in sales to date, seven products sold in multiple formats and markets and more in the pipeline, and the imminent arrival of a sustainable distillery, currently under construction, it’s been a great year for the company.

It experienced a bumper year with a 50 per cent increase in volume, expansion into new markets and significant growth in both volume and profitability.

Kinsale Spirit Company adopted a business model that ties in with its objectives of building brands and creating long-term viability without waiting years for its whiskey stocks to mature.

“By pursuing strategic supply contracts with two of Ireland’s top contract distillers, harnessing our brands, blending and new product developments (NPD) skills, we have launched a range of multi-award-winning brands, paving the route-to-market for our full portfolio and future own-distillery launches,” said Colin Ross, chief executive of Kinsale Spirit Company.

Ross has a commercial/management background in hospitality and beer/spirits, while his two partners, Tom O’Riordan and Ernest Cantillon, have experience as both publicans and entrepreneurs.

Gin and whiskey companies have experienced a significant surge in business over recent years, and an upswing is expected. Irish Whiskey exports to the US eclipsed five million nine-litre cases in 2022 and 14 million cases globally in 2022, at a value in excess of $1.5 billion, while premium whiskeys are growing at more than double the rate of standard brands.

With the sales forecast expected to hit €4.4 million in 2027 and the key driver of earnings growth being export whiskey sales, which will grow to €3.5 million in 2027, Kinsale Spirit Company has set itself up for a strong performance in multiple markets.

“Sales of gin and whiskey to the domestic market are forecast to grow strongly over the next five years, totalling over 230,000 bottles or circa €2.4 million by 2027,” said Ross.

Kinsale Spirit Company has focused on a number of markets: Ireland, the US, China, UAE, Germany, Asia, Ukraine and Poland.

It has in place strong supply partners, which help insulate it from recent commodity spikes, as well as a strong sales team on the ground in the US and Ireland, alongside global exports and global travel retail, an area which ties into its offering of high-quality whiskey and gin products.

“It’s a window to the world,” he said. “It’s an interesting channel, as many people like to buy whiskey and gin as gifts.”

It has seven products on the market now, all multi-award-winning brands: Kinsale and SummerCove Kinsale Gins, Red Earl Irish Whiskey, Great Earl Single Grain and Spanish Earl Single Malt Irish Whiskeys and Wild Atlantic IPA and Rechar Barrel finish Irish Whiskeys, with further NPD on whiskeys and other spirits ongoing.

It’s also preparing for the Christmas season, which includes its Wild Atlantic Irish Whiskey partnering up with SuperValu and great offers on Red, Great and Spanish Earl whiskeys, as well as the holiday favourite, Kinsale Gin.

Its innovation has expanded into other areas, with it being the first company globally to offer the sale of a cask of rare Irish whiskey as an NFT.

The company has been engaging in the EIIS scheme since 2019 and is looking to raise a further €1 million this year. The funds will be utilised in three areas: working capital, inventory build, and capital expenditure.

Working capital spend will focus on its ongoing brand and product development as well as expansion and entry into new and existing international markets and providing the commercial support needed for them.

Inventory build will focus on mature stocks, newly made and aged whiskey, and inventory for resale.

Capital expenditure will be put towards phase two developments after the opening of its new distillery in Kinsale.

Ross says the new distillery will allow the company to produce 30 casks of whiskey a week, allowing a significant increase in stock and one that will meet the growing demand for its products and special releases.

The next 12 months will be an eventful period for the company with a new distillery up and running, the launch of exclusive products for global travel and retail and a continuation of the rollout in markets it is in. It is also bringing in its first equity investors. It is all systems go for Kinsale Spirit Company.

For more information, please contact: Kinsale Spirit Company, eiis@kinsalespirit.com, or by phone on (083) 1601490