Featured: Financial Times - Scotch whisky producers toast wealthy drinkers in Asia for defying luxury gloom

25 Jan 2024

Beamish International's Charles Beamish was featured in the Financial Times as the FT explores the current state of the whisky market, noting that while it may not be conducive to rapid, short-term returns, it presents a buyers' market and offers a valuable opportunity for investors focused on securing long-term value gains.

As Scots celebrate Burns Night on Thursday to honour Robert Burns — whose distaste for duties imposed by London on Scotland’s national drink was the subject of one of his poems — local whisky producers say they are confident of defying a general weakening of demand for luxuries.

Optimists say the decline in auction prices will hurt speculators chasing a profit on quick sales, producers are adamant that fears of a market flooded with unwanted whisky are unjustified.

They point to the growing number of wealthy individuals in Asian markets and say Scotch’s appeal as an exclusive product will endure and receive a boost as customers switch to pricier drinks, a trend known as premiumisation. The £2.1mn sale of a Macallan 1926 bottle late last year added to confidence that demand for rare whiskies remains strong, with buyers seeking to take advantage of declines in the value of some bottles to add to their collection.

“While the whisky market is currently not favourable for quick, short-term returns . . . it is a buyers’ market, presenting a valuable opportunity for those seeking long-term value gains,” said Charles Beamish, chief executive of Beamish International, which advises wealthy individuals and family offices on whisky purchases. 


Written by Lukanyo Mnyanda

Additional reporting by Euan Healy in London


Read the full article here.


More articles