WHISKEY GALORE
Investor pays over €15,000 in just one day on selection of our favourite tipple
6.2million cases exported in 2015 ‘It’s all we ever wanted to do’
AN Irish buyer splashed out more than €15,000 on the oldest collection of Irish single malt whiskeys in the world at Christmas.
Proving that the good times are back for the Irish whiskey industry, individual bottles from the Teeling distillery in Dublin’s Liberties retailed for up to €150 and even €1,500.
In total over the past year, the distillery sold nearly €1.6m worth of its rare whiskeys, ranging in age from 21 to 30 years.
It’s good news for the new firm run by brothers Stephen and Jack Teeling which has received huge critical acclaim.
During the Christmas period their entire limited release vintage reserve range of the 21-year-old, 26-year-old and 30-year-old whiskeys – part of vintage reserves sourced by the brothers – sold out.
Stephen Teeling, 34, said he was delighted with the sales.
‘All of these whiskeys are collectors’ items with one individual spending more than €15,000 on our whiskeys in one day,’ he said.
‘These vintages will now be replaced with a 24-year-old and 33-year-old limited edition bottling in 2016.’
Teeling and his brother are part of a revival in the fortunes of Irish whiskey, the oldest kind in the world. Export figures show more than 6.2million cases of Irish whiskey were exported to over 100 countries last year. That figure is set to double by 2020, says IBEC. Just two years ago, there were four distilleries in Ireland. Today there are eight. By 2018, the Irish Whiskey Association estimates there will be 15. The association was set up two years ago in association with IBEC, to represent the industry.
It provides a forum for all operators, new and old, to come together to build the Irish whiskey brand.
Chairman Bernard Walsh, of the Walsh Whiskey Distillery, noted the recovery in Irish whiskey’s fortunes.
‘Substantial investment will continue during the 2016 to 2020 period with total investment of €366m,’ he says.
‘Capacity for tourists is expected to grow by over 60% over the next 10 years from current levels of 513,000 visits to Irish whiskey plants in 2015. This would mean an extra 330,000 tourists visiting Irish whiskey facilities by 2025.’
For the Teeling brothers, whose distillery operates tours at its Newmarket Square facility in Dublin 8, whiskey is in the blood.
Their ancestor Walter Teeling set up a whiskey distillery nearby 230 years ago. Now Stephen and his older brother Jack, 38, have followed in his footsteps with a €10m investment in the distillery and visitor centre. ‘It’s all we ever wanted to do,’ said Stephen. ‘We have a long-term business plan because this is a long-term dream.
‘Irish whiskey used to be the biggest selling whiskey in the world and now finally we’re seeing it come back into fashion.
‘We’ve a long way to go but we believe the market is there. People want to drink Irish whiskey again.’
Teeling says that unlike Scotch whisky, Irish whiskey appeals to a younger demographic, with male and female fans.
‘People drink it after a beer, they drink it in cocktails… Irish whiskey is softer, mellower than Scotch and we’re finding a new audience for it.’
Ambitious plans for a second distillery were lodged with Dublin City Council planners last year.