Fast growth for drinks brand
Investment plan delivers a tonic for sales of Boe Gin
Andrew Richardson and fellow director Carlo Valente
A drinks firm has reported a surge in sales of one of Scotland’s fastest-growing gin brands following significant investment in promotion and distribution.
Revenue for Boë Gin for the year to February 2019 rocketed to £8.5 million, against £1.1m in the corresponding year. Operating profit also soared to £1.26m, up from £128,481.
The sharp rise followed UK listings in the on and off-trade across the Boë portfolio of full-strength gins and liqueurs owned by Stirlingshire-based VC2 Brands.
If results had been available earlier, it’s believed the phenomenal growth of Boë Gin would have seen it take top spot in Alantra’s recently-published Food & Beverage Fast 50.
VC2 Brands has invested in innovation and new product development, and launched a £200,000 advertising campaign last year. There has also been investment in marketing, PR, social media, event sponsorship and sampling.
The company is led by former Scotsman Publications and McVities executive Andrew Richardson, together with Carlo Valente and Graham Coull.
Since launch in 2007 the Boe gin brand has gained a number of key listings and is now available in supermarkets and 11,000 cocktails bars, restaurants and pubs across the country. The flavoured gin category has grown substantially over the last 18 months, accounting for more than 30% of the total gin category in the off-trade.
Mr Richardson, whose business includes Black Wolf Brewery, said: “The success we’ve experienced this year is a huge achievement. We have expanded very rapidly from having a focus on Scotland, to Boë being enjoyed across the UK and beyond.
“Though we may be a relatively small company, our ambitions are big, and we pride ourselves on our innovation. We’ve been at the forefront of flavoured gin in the UK and are also exporting Boë Violet and Boë Passion to Spain. There are many opportunities in the UK and internationally to grow the business much further.”