ONE OF THE UK’S BIGGEST CASK TRADERS OPENS IN ASIA – Whisky News
ONE OF THE UK’S BIGGEST CASK TRADERS OPENS IN ASIA
Increased demand from the East sees London-based Cask Trade Ltd open in Hong Kong
The trusted stockist showcasing the largest inventory of cask whisky on the market announces the opening of an office in Hong Kong this week servicing the whole of Asia.
For the first time, bottlers, investors and avid whisky enthusiasts in Asia will be able to buy casks at UK prices, significantly lower than anyone has been used to, and with the same seamless service afforded to hundreds of investors and bottlers for Cask Trade UK.
Director of Cask Trade HK, Sir Colin Hampden-White, says: “For many years I have had the pleasure of helping customers from all over Asia who appreciate cask strength whisky to taste and purchase,” says Hampden-White who is a Keeper of the Quaich, who adds: “I’m very excited Cask Trade is opening an office in Hong Kong where I can personally host tastings and be a part of our customer’s journey in selecting and buying cask whisky.”
Masters of whisky appreciation
Managing Director of Cask Trade, Simon Aron, says the opportunity for growth in Asia is unprecedented. Cask Trade has seen a 25% increase of their existing business in Asia already and expect to see further increase of a minimum of 25% in sales for the entire business by having a physical presence in the region.
“By opening in Hong Kong, we are addressing a demand from existing and potential customers throughout Asia offering direct access to casks for whatever purpose, at competitive UK prices with complete transparency and a seamless service,” says Aron, who adds: “Our company is all about an authentic marketplace for buying and selling casks of whisky. We have multiple exit strategies, including our online auction for casks – auctionyourcask.com. We want to supply all bottlers, investors and of course, whisky lovers! I think the Asian market will be both surprised and delighted with our competitive prices.”
John Wong
The new office based in the Admiralty District of Hong Kong will be headed up by John Wong.
A self-confessed whisky geek, Wong says, whilst the whisky scene is relatively new in the region, the level of expertise, passion and enthusiasm is remarkable.
“Drinkers from Greater China and Asia-Pacific are always seeking a diverse range of taste and flavour profiles in whisky. They look for rarity and investment opportunities with stories behind the liquid. With me on the ground in Hong Kong, I can immerse myself into the whisky community because there is nothing better than meeting face to face with a dram in your hand,” says Wong, who explains the demand isn’t just coming from Hong Kong. “The East Asian market is unique and our highly skilled and educated customers like to discuss whisky and learn from each other. It’s so much more than just buying and selling; we are embarking on a journey together.”
Whisky investment done properly
Cask Trade has one of the largest and varied stock lists anywhere in the world. The team sample, taste, health check every cask and only sell stock that they own. It holds its own insurances and licenses and is not affiliated to any third party. Cask Trade HK enjoys all of the relevant licences direct with UK. This includes all of the UK HMRC (Her Majesty’s Revenue & Customs) licences required to trade, store and bottle whisky (WOWGR, AWRS and Duty Representative).
Mirroring what Cask Trade has achieved in the UK, the new business in Hong Kong is looking to build a reputation as the go-to cask company in Asia.
Whisky on the rise in Asia
According to the Euromonitor report, by 2022 the value of whisky sales in China is expected to reach around £2.2 billion, 38.6% more than in 2018 and the volume of whisky sales is to reach 23.65 billion litres.
Direct exports increased from around £1.4 million in 2000 to around £89 million in 2019, reaching an annual growth rate of over 24% (CAGR 2000-2019). Around 25 bottles of Scotch whisky are exported to China every minute.
ABOUT CASK TRADE:
Founded in 2018 by Simon Aron in partnership with several of the world’s foremost whisky masters, including Keeper of the Quaich Sir Colin Hampden-White, Cask Trade buys and sells exceptional cask whiskies. The company is unique because it only sells casks it owns outright, and it only sells whole casks: it is not a whisky cask broker and it does not offer fractional sales.
A passionate whisky collector for more than 20 years, Simon Aron suffered many false promises from whisky investment companies and this drove his ambition to create a real and trustworthy market place for whisky collectors and investors, and bottlers:
The company’s casks are held in the best HMRC bonded warehouses, regularly visited and approved by Cask Trade whisky masters. All stock holdings have a complete paper trail.
- Delivery orders from supplier to Cask Trade
- Invoices for transfer of ownership, storage insurance, re-gauging, sampling or movement
- HMRC-issued WOWGR (warehouse keepers, warehouse premises, owner of goods and registered consigners): a fully regulated and closely monitored license requiring due diligence on suppliers as well as customers.
- HMRC-issued AWRS Alcohol Wholesaler Registration Scheme: Licenced to wholesale, bottle and retail.
Included in its extensive list of customer services, Cask Trade’s rigorous processes means that the company will guarantee to buy back from its clients the casks they buy from and have had managed by Cask Trade. It also offers…
- Regular sampling and re-gauging of casks
- Re-racking (sherry wine, port etc)
- Estimates of bottles and strength in cask (effects of angels’ share 0ver years of maturations)
- Financial modelling for each cask based on age and rarity with estimated % returns
- Costings for bottling, labelling and shipping (duty & tax)
- Regularly updated whisky investment guide which includes statistics from two authoritative third parties (independent of Cask Trade)
- Cask Trade will arrange for clients to receive samples of their whiskies and visit their barrels(s), upon request – wherever possible.
Cask Trade has started the first live auction website dedicated to exceptional whisky casks: auctionyourcask.com.
Hosted four times a year and helping private owners/investors sell their cask to independent bottlers and other investors all around the world. All casks will be re-gauged ready for auction and a full 70cl sample will be drawn so that bidders have the opportunity to try the whisky before they buy. – Wherever possible. We validate all the sellers and confirm proof of ownership and the history of the cask enabling bidders to safely buy. With complete transparency and no sellers’ fee we can offer you the actual hammer price. Our low buyers’ fee of 15% will offer the opportunity to buyers, trade or private, to buy rare casks.
