(Alliance News) - Artisanal Spirits Co PLC on Tuesday announced the launch of a new subsidiary in Taiwan, the third-largest market for ultra-premium scotch whisky globally.

The Edinburgh, Scotland-based distiller of single-cask and limited-edition whiskies owns The Scotch Malt Whisky Society, which itself is a curator and provider of premium single cask Scotch malt whisky and other spirits.

Under the terms of the agreement, Artisanal Spirits will hold 70% ownership of the entity. The new SMWS Taiwan subsidiary replaces Artisanal's existing franchise agreement, and provides direct sales access to the Taiwanese market.

Artisanal now plans to now drive sales and engagement through the SMWS website, in-person events and digital marketing, as well as social media activity, building on launch activity for media, whisky clubs, brand ambassadors and retailers.

"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," said Chief Executive Officer Andrew Dane.

"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 USD8.1 billion Ultra-Premium Scotch Whisky Market."

Artisanal Spirits shares were trading 2.0% higher at 74.94 pence each in London on Tuesday afternoon.

By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.