Friday August 17, 12:16 AM
Moet Hennessy revamps Glenmorangie for global Scotch malt whisky push
(embargo to 00.01 Friday August 17)
LONDON (Thomson Financial) - Moet Hennessy (Paris: FR0000121014 - news) , the drinks arm
of luxury goods group of LVMH, is re-launching and re-branding its flagship whisky brand Glenmorangie as it aims to capture a larger chunk of the global single malt Scotch whisky market.
Paul Neep, chief executive of The Glenmorangie Company, declined to reveal the actual amount being spent on the fifth-largest single malt whisky brand internationally but said the investment reflects the group's 'strong belief in the future of this brand'.
'Believe me, we are putting a significant investment behind Glenmorangie to grow it into the future,' he said.
Neep said the group intends to grow the brand, which has around 5 pct of the global malt whisky market, in both volume and value, targeting new markets in Asia-Pacific (002790.KS - news) as well as existing markets, including the US and Western Europe.
The relaunch of Glenmorangie includes the repackaging of the entire range, with the group having invested in a brand new bottling plant in Broxburn to handle the new bottle shapes.
The core Glenmorangie 10-year-old, which accounts for around 70 pct of volumes, is being renamed The Original to reflect its heritage and status, said sales and marketing director Simon Erlanger, adding that the whisky going into the bottle is 'even better'.
The company is also replacing its Wood Finish expressions with the Glenmorangie Extra Matured range of three single malts with Gaelic-inspired names -- Lasanta, Quinta Ruban and Nectar d'Or -- aged for 10 years in Bourbon (Paris: FR0004548873 - news) casks and then additionally matured in either Sherry, Port or French Sauternes barrels. The Glenmorangie 18-year-old and 25-year-old whiskies will also be re-launched with their own bespoke identities, the company said.
'The emphasis will always be on Glenmorangie 10-year-old - The Original - that will always be our lead expression,' said Neep. 'And depending on the market and its relative sophistication, then we will follow through with the Extra Matured range and older expressions of Glenmorangie as well.'
Neep said the single malt category has been growing at a 'significant pace and we as a company have been getting our fair share of that'.
Figures from industry body the Scotch Whisky Association indicate that Scotch malt whisky grew 7.5 pct in volume in 2006, with value exceeding 400 mln stg for the first time. Malt whisky accounts for some 7 pct of total Scotch volumes and 16.5 pct of value.
Neep admitted that 'inevitably' Glenmorangie sales would exceed capacity at its distillery in Tain.
'We're always looking to make sure we have the stock to meet our growing demand,' he said. 'That's under review, but for the time being we have sufficient capacity and sufficient stocks to meet our business needs.'
sjm/dca
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