The Scotch whiskey giant has revealed plans to ensure it can meet forecast demand in the coming years by making multi-million pound investments in its production facilities in Scotland.
According to the herald, The Glenmorangie Company has revealed plans to invest “tens of millions of pounds” a year to ensure it meets demand from whiskey drinkers for decades to come, after recording its best sales performance in 2021 .
The company, owner of Glenmorangie and Ardbeg single malts, said it has seen a positive recovery from the pandemic, with the expansion of online and direct-to-consumer markets helping to overcome limitations in the hospitality and travel retail sectors caused by Covid-19.
The investment follows what Thomas Moradpour, chairman and chief executive of The Glenmorangie Company, said was “our best year in recorded history in terms of sales”.
He said the herald“The market for delicious, premium and well-made products like Scotch single malt is very positive. And that was positive during the crisis.
“We have invested enough in our brands to gain market share, to have momentum in the right markets and in the right market segments. So I think we’re in good shape to continue our upward journey in 2022 and beyond.
Moradpour said the company plans to double existing bottling capacity at the company’s Alba campus in Livingston with the installation of a new high-speed bottling line.
On a site near the Glenmorangie distillery in Tain, he plans to build 16 large warehouses over the next eight years to house the whisky.
According to Rare Whiskey 101 – a whiskey analyst and broker – the first half of 2021 saw 85,000 bottles of fine whiskey traded on the secondary market, worth over £36million. The company predicts that the second half of the year will have seen the value of sales increase by almost 30% compared to 2019.
The Knight Frank Luxury Investment Index also noted that rare whiskey has done better than other fine collectibles such as wine, art or jewelry, rising 564% in the last decade.
The Lighthouse Distillery in Glenmorangie opened in September 2021. The new distillery was created solely for experimentation rather than yield. The 20m tall stills installed in the distillery feature modifications to alter the character of the spirit by acting as if they were shorter or taller.