YOU CLEVER FOX: THE IRISH WHISKEY CROWDFUNDING TO MAKE INVESTMENT ACCESSIBLE TO ALL
When new Irish Whiskey brand Foxes Bow said they do things differently, they weren’t lying. In their latest attempt to democratise whiskey, they’re taking a unique approach to whiskey investment. Despite the huge interest in whiskey amongst experienced investors, the young founders behind Foxes Bow decided to take a different route to fundraising, teaming up with Crowdcube (the UK’s largest crowdfunding platform), to make whiskey investment accessible to all. They’re crowdfunding in an attempt to allow anyone to get involved and own a piece of the company – for as little as €10/£10.
Speaking of the move, Alice Carroll, co-founder of Foxes Bow Whiskey, said ‘The new generation of whiskey drinkers are looking for something different from whiskey. The old-fashioned, exclusive brands aren’t reflective of them. And all the rules around there being a ‘right’ and ‘wrong’ way to enjoy it just don’t fly. It shouldn’t be such an exclusive club anymore. We want to blow the doors open and make whiskey accessible to anyone. And for us, that extends to making it accessible to invest in whiskey.’
Because of their unique, contemporary approach to whiskey, Foxes Bow has attracted the interest of investors outside of just food and drink industries. Jack Pierse, co-founder of Wayflyer (Ireland’s latest tech unicorn) is coming on-board as one of the lead investors in the round.
Speaking of crowdfunding in general, Tony Foote, co-founder of Foxes Bow explained ‘Crowdfunding is still a relatively new concept in Ireland. People sometimes confuse it with Go-Fund-Me or the likes. But it’s nothing like those platforms. It’s not companies looking for a hand-out. Crowdfunding is a great, accessible way for anyone that wants to invest in a company in return for a piece of equity in that company. A lot of the time with investments in companies like ours, the minimum cheque size requirement is pretty big, which means it’s too expensive for most people to get involved. By working with Crowdcube, we’re able to invite people to own a piece of the company for as little as €10. That means it’s a lot more accessible and inclusive, which is what we’re all about.’
After strong performance in Ireland since the product’s launch in November 2021, the company is fundraising to support their national growth in Ireland and the UK as well as their export ambitions in new markets including South Africa, and initial entry into the US and Chinese Markets, along with brand development and team expansion.
Industry veteran Patrick O’Driscoll has also come on-board to support the team and make their ambitious plans a reality. Formerly CEO of Corby Spirit & Wines, Canada (an affiliate of Pernod-Ricard) and prior to that, former Global CEO for Malibu Rum and Kahlua, Patrick brings 35 years of global drinks industry experience.
POSITIVE TRACTION FOR FOXES BOW
- Since its launch in November 2021, Foxes Bow has already shown strong momentum.
- It was one of the top volume performers of 2021 via Irish Malts (a leading e-retailer).
- And sold out in O’Briens 4 weeks in a row post launch.
- Foxes Bow has recently began exporting, with the first order shipped to Germany at the end of March, 2022.
- Bord Bia and Foxes Bow partnered on a consumer study conducted by OPINIONS which found Foxes Bow Whiskey appealed to 91% of US consumers.
THE IRISH WHISKEY CATEGORY IS ON FIRE WITH NO SIGN OF SLOWING DOWN
- Irish whiskey continues to be the world’s fastest-growing spirit with a total increase in sales of 150% over the past decade.
- Irish Whiskey is a $2.5bn Irish Whiskey industry and projected to grow to be worth $6.9bn by 2027.
- There were 11.4 million 9-litre cases of Irish whiskey sold globally in 2020. Official figures are not yet available for 2021. However, the Irish Whiskey Association assess that in excess of 13 million cases were sold globally in 2021.
- The Distilled Spirits Council of the United States (DISCUS) have recently reported that 5.9 million cases were sold in the US in 2021, an increase of 18%.
- Sales of Irish Whiskey are anticipated to overtake Scotch in US by 2030.
The crowdfunding campaign is now open! You can invest or learn more at www.crowdcube.com/foxesbow.