INVESTOR REPORT
MARCH 2024
ULTRA-PREMIUM WHISKIES
WHISKEY MARKET OVERVIEW
In 2022 Whiskey accounted for 19% of total global spirits value at USD $86 billion, 512 million 9-liter case equivalents. While Scotch whiskey holds 41% of whiskey’s value share globally, the overall whiskey category is continuously evolving and innovating with recent years growth over- indexing in the US, Irish, and Japanese whiskey segments.
Total Whiskey is expected to grow at a 4% CAGR globally to $105 billion in value by 2027, as incomes increase in developing countries and the premiumization trend in mature markets becomes embedded in consumer purchasing behavior. 16% of total whiskey sales are done at USD $45+ retail, and these price segments are expected to grow double the category at 8% year on year (IWSR 2022).
The US is the biggest whiskey market globally, contributing 28% share of total global whiskey sales, roughly $24 million in retail sales value and 91 million 9-liter case equivalents. While all whiskey subcategories are growing in the US, American Whiskey is the biggest contributor to growth and accounts for 54% of sales domestically. This subcategory, especially bourbon, has been experiencing a resurgence in the US in last 10-15 years.
Ultra-premium and above US whiskey ($45+) has grown at 3-4X the category in recent years and is expected to continue to outpace it’s lesser priced counterparts at a 8 to 9% CAGR through 2027 (IWSR 2022).
APAC MARKET OVERVIEW
The APAC region, is of significant mid- to- long term interest for whiskey producers. Japan is the 3rd largest ultra-premium whiskey market in the world due to their heavily allocated domestic expressions. They are also the 2nd largest ultra-premium US whiskey market in the world and are expected to grow the subcategory at a healthy 5% CAGR through 2027 (IWSR 2022).
China, the 2nd largest ultra- premium whiskey market in the world, and the largest prestige spirits ($100+ bottle) market in the world is an obvious opportunity. Despite only making up about 1 percent of China’s spirits market, whisky’s popularity in China is accelerating.
China imported $460 million worth of whisky(ey) in 2021, an annual increase of 91.7 percent, according to Chinese economic news media Yicai. Euromonitor projects that whisky market revenue in China will surpass $2.25 billion in 2025, up from $635 million in 2019. About 47 percent of China’s whisky consumers are Gen Zers, 40 percent of whom are willing to spend upwards of $145 (1,000 RMB) on a bottle, according to a 2021 report from China’s Billion Bottle whisky information platform (Jing Daily, 2023).
BRAND OVERVIEW
Rare Hare invites consumers on a journey of discovery of rare stocks, unique blends, and boldly finished spirits in collaboration with artisan producers around the world.
The brand will leverage extensive relationships, expertise and a wide account base, built over the course of the last decade in US and international markets that a re a focus for SIP’s other ultra-premium whiskey, Heaven’s Door.
BOTTLE +
PACKAGING DESIGN
The iconic Playboy bunny head logo has significant brand awareness across North America, Europe, and the Asia Pacific region. Our branding strategy is to leverage this well known icon for Playboy Spirits in conjunction with a unique name that both links the Playboy brand and reflects the quality of our whiskey offerings. The brand name, “Rare Hare” created for the collection of super-and-ultra-premium whiskey features iconography of a vintage rabbit on the bottle and packaging with the Playboy bunny head logo incorporated on the bottle toppers to reinforce the affiliation of Playboy with the Rare Hare brand.
PLAYBOY SPIRITS
PLABOY
RARE HARE OVERVIEW
3 HARES OVERVIEW
PLAY HARD OVERVIEW
INVESTMENT OVERVIEW
PARTNERS & RESOURCES
SIP
Project Title
1953
AGED 17 YEARS
STRAIGHT BOURBON WHISKEY
FINISHED IN XXO COGNAC CASKS
Our inaugural super-premium whiskey offering, Rare Hare “1953” Anniversary Edition, is a remarkable 17-year-old straight bourbon whiskey that pays homage to the year Playboy was founded.
Project Title
LAPINE
AGED 60 YEARS
COGNAC
PETITE CHAMPAGNE
In November 2022, the Company debuted its second brand release, Rare Hare “Lapine”. We worked with a rare goods importer to acquire this untouched 60-year-old cognac from the Herblot family’s vineyard to bottle under the Rare Hare label.
Project Title
LUCKY BASTARD
AGED 30 YEARS
SINGLE BARREL CANADIAN WHISKEY FINISHED IN PINEAU DES CHARENTES CASKS
In June 2023, the Company released Rare Hare “Lucky Bastard,” a 30-year-old Canadian whiskey finished in Pineau Des Charentes casks. Pineau Des Charentes is a blend of fresh grape juice and young eau-de-vie (Cognac), which is then aged in oak barrels, resulting in a wonderfully round and balanced body.
Project Title
THE TEMPEST
AGED 20 YEARS
TASMANIAN WHISKEY
The fourth Rare Hare release is an extremely rare 20-year-old Tasmanian single malt whisky. With amazingly clean air, sparkling clear water, and excellent local barley, Tasmania is naturally well-endowed for the task of making world class malt whisky. We believe that the uniqueness of a Tasmanian whiskey fits perfectly into our brand architecture and will generate significant buzz in the whisk(e) y world.
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