We are delighted to announce Cask Trade Ltd has opened an office in Hong Kong servicing the whole of Asia.
We have seen an increasing demand for cask whisky from the East. Cask Trade are very excited to showcase our unmatched inventory to our existing and new clients in Asia.
For the first time, bottlers, investors and avid whisky enthusiasts in Asia will be able to buy casks at UK prices. The prices are significantly lower than anyone has been used to, and with the same seamless service afforded to hundreds of our UK investors and bottlers.
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. 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. We have seen a 25% increase of our existing business in Asia already. We expect to see further increase of a minimum of 25% in sales for the entire business. This is achieved 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. We're 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.”
The new office based in the Admiralty District of Hong Kong will be headed up by John Wong. John is a self-confessed whisky geek. He says, whilst the whisky scene is relatively new in the region, the level of expertise, passion and enthusiasm's 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. 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. 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 We are proud to own one of the largest and varied stock lists anywhere in the world. Our team sample, taste, health check every cask and only sell stock that we own. We hold all our own insurances and licenses and are not affiliated to any third party. Cask Trade HK enjoys all of the relevant licenses direct with the UK. This includes all of the UK HMRC (Her Majesty’s Revenue & Customs) licenses required to trade, store and bottle whisky (WOWGR, AWRS and Duty Representative). With our new business in Hong Kong we are looking to build a reputation as the go-to cask company in Asia. The aim is to mirror what we have achieved in the UK.
Whisky on the rise in Asia
According to the Euromonitor report, by 2022 the value of whisky sales in China is expected to reach £2.2 billion (approx). This is 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. This resulted in reaching an annual growth rate of over 24% (CAGR 2000-2019). Around 25 bottles of Scotch whisky are exported to China every minute. We encourage our Asian customers to follow us on WeChat. Stay up-to-date with our Hong Kong activities.