Scotch Malt Whisky Society in Korea breakthrough
The Artisanal Spirits Company, owner of The Scotch Malt Whisky Society, has signed a franchise agreement with FJ Korea in South Korea, opening up a new market.
It is the tenth largest market within the global Ultra-Premium Scotch Malt Whisky sector, based on value, estimated to be worth c.$161 million in 2021, an increase of 65% vs 2020.
FJ Korea is the fourth largest liquor distributor in South Korea with a strong presence at over 2,000 on-trade venues and a wide national network base in key locations such as Seoul.
In association with FJK, SMWS plans to recruit new members in the region through the SMWS website, digital marketing and social media activity, as well as physical, in person partner bar and live marketing initiatives such as whisky festivals and tasting events.
This development follows the group’s recent entry into Mexico and South Africa last year, through franchise agreements in those respective geographies, as ASC continues to expand its global footprint into new growth markets.
David Ridley, managing director of Artisanal Spirits Company, curator of single-cask and limited-edition whisky, commented: “This further establishes our operations in Asia – one of the fastest growing whisky regions in the world.
“FJK has committed to grow the SMWS brand for the long term, pledging a dedicated team to focus on our brands and member recruitment in in this new market.
“This further underpins our approach to seeding and expanding our growing presence in key international markets and the exciting potential we believe the Asia region continues to represent for ASC within the context of our international growth plan.”