Hackney-based East London Liquor Company won a jackpot of sorts after raising nearly £880,000 through its crowdfunding project! The global financing campaign was started to support the brand’s whiskey production, while also growing its domestic sales team to further capture international opportunities.
Owned by entrepreneur and ex-bartender Alex Wolpert, East London Liquor Company has grown into a profound distillery, churning out premium vodka, gin and whisky for connoisseurs. It also operates a bar, restaurant and independent bottle shop under the same label, and is coming to be liked by more and more Englishmen by the day. Currently valued at £15 million, the company estimates to reach a turnover of £10.5 million by 2020. Commenting on the overwhelming crowdfunding support, Wolpert stated, “We have been overwhelmed by the level of interest from the UK and global markets for our honestly-priced spirits and our straightforward approach to distilling. Together, both established spirits and emerging markets represent a massive opportunity for British brands. Brexit poses a challenge to our industry, but the funds raised through this campaign will help us to tear down these barriers.”
Through the garnered funds, the company plans to diversify its reach beyond its current base of 20 countries. It will also launch the first (London Rye) whiskey since the closure of the Lea Valley Distillery, by the end of the year. The Crowdfunding campaign for East London Liquor Company will continue till the 31st of this month.