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Mangrove UK, which manages over 20 global premium drinks brands in the UK, has delivered record trading results for the year ending 30th April 2019, increasing total turnover by 41.3% to reach £21.4million.
The company sold 53.5% more nine litre cases than the year before, Duty Paid sales were up 36% and Under Bond sales increased by 77%. This builds on five years of continous growth and a record month in October 2018 which saw Mangrove UK deliver a record 22K cases to On and Off trade customers across the UK.
The premium spirits importer and distributer, whose brands span whisky, vodka, rum, pisco, cognac and liqueurs, has identified a number of factors which have contributed to its record results:
• Good sustainable growth across its core portfolio categories of gin, tequila, vodka and whisky including the addition of the Scotch Whisky brands Ben Riach, Glengassaugh and Gendronnach which positively impacted on second half sales
• Close partnership working with brand owners to ensure continual innovation and market disruption combined with consistent delivery of premium, award winning taste experiences for consumers
• Growth across both the On and Off Trade in terms of distribution points and portfolio penetration
• Investment in team Mangrove to recruit additional category and industry experts to generate further growth on the ground
Looking forward, Nick Gillett, Managing Director, said:
“I am a lucky man. I get to go to work every day doing a job that is my passion. And the forthcoming year looks set for more exciting trends and innovations, with further new product development like the great Black Cow Vodka & English Strawberries limited edition which has just launched.
Having just strengthened our sales and account team, expect more recruitment to the team, to make sure we can continue to satisfy the demands of our brands in a professional manner.
I’m particularly excited about Bourbon as we see the impact of price repositioning, and we should also reap the rewards of growth in awareness of Pampelle and Select amongst consumers wanting a quality product.
That said, the highly competitive UK market will continue to be tough. Our focus will be on effectively managing the challenges that come with growing at this rate and on cost effective financing.
We continue to look to make the right brand additions to ensure we remain relevant, building on our quality portfolio of brands that are ready for further expansion and growth for many years to come.”
Mangrove UK’s hand-picked portfolio displays heritage, innovation and commercial viability. The company has delivered measurable growth for a number of brands to become market leaders in their categories in under five years through strategic marketing and commercial advice, category education, menu creation, PR partnerships and brand activations.