Edrington’s Sales Rise To $1.5 Billion Despite Tougher Global Economy
July 1, 2024Boosted by strong demand for higher-end bottlings of single malt Scotch whisky The Macallan, Scotland’s Edrington saw core sales climb 11% to £1.2 billion ($1.5b) in its fiscal year through March. Profit before tax increased 6% to £411 million ($521m).
Edrington cited its ultra-premium focus as driving results for The Macallan over the past year, noting, “There was high demand for premium products including the brand’s collaboration with Bentley Motors to produce The Macallan Horizon and with Stella and Mary McCartney on the newest edition of The Macallan Harmony Collection.”
Other recent limited releases from the Speyside malt have included The Macallan Home Collection, River Spey, which retails at around $490 a bottle, and Tales of the Macallan Volume II, a 1949 vintage single malt bottled in 2022, which carries a suggested price of $90,000. In the U.S., The Macallan slipped 4% to 232,000 cases last year, according to Impact Databank, but outperformed the single malt market. The brand was up 0.6% by volume and 4.7% by value in Nielsen channels in the year-to-date through May 18.
Edrington Americas struck a national deal with RNDC effective in April, under which the Edrington portfolio is exclusive with RNDC in 40 markets across the U.S. Other key brands in the range include Famous Grouse blended Scotch, Brugal rum, and Highland Park single malt Scotch. Highland Park’s Cask Strength Batch No. 4 ranked second among Whisky Advocate’s Top 20 Whiskies of 2023.
“Our strategy of focusing on ultra-premium spirits continues to deliver healthy brands and a strong underlying performance,” said Edrington chief executive Scott McCroskie. “However, we consider that the economic pressures that we saw in the second half of last year will adversely affect demand. While we will continue to invest in our brands, in our operations and in sustainability, the business is planning for the coming year on the basis of lower levels of growth than we have experienced since the end of the pandemic.”—Daniel Marsteller
| Edrington Americas―Top Five Brands in the U.S. (thousands of 9-liter case depletions) |
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| Brand | Type | 2022 | 2023 | Percent Change1 |
|---|---|---|---|---|
| The Macallan | Single Malt Scotch | 242 | 232 | -4% |
| Brugal | Imported Rum | 106 | 114 | 8% |
| The Famous Grouse | Blended Scotch | 125 | 112 | -10% |
| Noble Oak | Bourbon | 26 | 30 | 15% |
| Highland Park | Single Malt Scotch | 22 | 18 | -18% |
| Total Top Five2 | 521 | 506 | -3% | |
| 1 Based on unrounded data 2 Addition of columns may not agree due to rounding Source: IMPACT DATABANK © 2024 |
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Tagged : Brugal, Edrington, Highland Park, The Famous Grouse, The Macallan
