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Glenmorangie reveals investment plans worth tens of millions a year
The Scotch whisky giant has revealed plans to ensure it can meet anticipated demand in the years ahead by making multi-million-pound investments in its production facilities around Scotland.
According to The Herald, The Glenmorangie Company has revealed plans to invest “tens of millions of pounds” per year to ensure it meets demand from whisky drinkers in the decades to come, after recording its best ever sales performance in 2021.
The company, owner of Glenmorangie and Ardbeg single malts, said it has seen positive recovery from the pandemic, with expansion in the online and direct-to-consumer markets helping to overcome the limitations in the hospitality and travel retail sectors brought about by Covid-19.
The investment follows what Thomas Moradpour, president and chief executive of The Glenmorangie Company, said had been “our best year in recorded history in terms of sales”.
He told The Herald: “The market for well-made and high-end, delicious products like Scotch single malt is very positive. And it has been positive through the crisis.
“We have invested enough in our brands to gain share, to have momentum in the right markets and in the right market segments. So I think we are in good shape to continue our journey upward in 2022 and going forward.”
Moradpour said the company planned to double existing bottling capacity at the company’s Alba Campus in Livingston with the instillation of a new high-speed bottling line.
At a site near the Glenmorangie distillery in Tain it is planning to build 16 large warehouses over the next eight years to house whisky.
According to Rare Whisky 101 – a whisky analyst and broker – the first half of 2021 saw 85,000 bottles of fine whisky traded on the secondary market, worth more than £36 million. The company predicts the second half will have seen value of sales up almost 30% on 2019.
Knight Frank’s Luxury Investment Index also noted that rare whisky has done better than other fine collectibles such as wine, art or jewellery, rising 564% in the last decade.
Glenmorangie’s Lighthouse Distillery opened its doors in September 2021. The new distillery has been created solely for experimentation, rather than yield. The 20m high stills installed into the distillery feature modifications allowing for alterations to the character of the spirit by acting as if they were shorter or taller.