Whisky Specialist, the Artisanal Spirits Company, owner of the Scotch Malt Whisky Society (SMWS) has launched a subsidiary in Taiwan, the world’s third-largest premium market.

The newly-established SMWS Taiwan subsidiary replaces the existing franchise agreement and provides direct sales access to the Taiwanese market. On the first day of trading, SMWS Taiwan enrolled 500 paying members.

Based on value, Taiwan an estimated total addressable market of $593 million. It marks the next milestone in ASC’s expansion in Asia.

SMWS has similar subsidiary operations in China and Japan as well as franchise partners in a range of markets, including Malaysia, and a recently established agreement in South Korea.

Under the terms of the Taiwan agreement, the group will hold 70% ownership of the entity. The subsidiary is led by an experienced management team of Murphy Chang, former Brand Heritage Manager for Moët Hennessy Taiwan, as country director.

He will have operational responsibility, supported by Eric Huang, the former franchise partner and one of the foremost whisky experts in Asia, as SMWS President, and Andrew Dane, CEO of The Artisanal Spirits Company as chair of the Taiwan entity.

Mr Dane said: “Taiwan is one of the world’s largest and most sophisticated whisky markets. The new subsidiary expands our footprint in Asia and gives us direct access to this exciting territory, helping us to capture demand for our unique combination of ultra-premium and limited edition whiskies and outstanding experiences and knowledge.

“Launching the Taiwan subsidiary was a key strategic objective for 2023 and we are delighted that this has been delivered so successfully.

“We now have an SMWS presence in the world’s six largest markets and our full global footprint giving us coverage of over 80% of the $8.1 billion Ultra-Premium Scotch Whisky Market (2022 IWSR).”