West Winds Gin makes a crowdfunding move
Popular Western Australian gin, West Winds, has launched a crowd-funding page as it looks to raise capital to help with domestic and international growth.
Investments start at $500 and go up to $10,000 for retail investors and the company is offering share packages with a total of between two and 14 million ordinary shares ultimately available at 25 cents a share.
In terms of what the monies raised through this initiative will be used for, the company has listed the following:
- Provide working capital for bottles and packaging, gin distillation and production costs, excise, new product roll-out and supporting costs;
- Provide working capital to pay Australian government excise that is due on sales of spirits made in Australia;
- Invest into marketing to increase awareness of our gins domestically;
- Expand our international sales strategy and targeted marketing in key areas with our distribution partners.
Further, the company said: “Our mission is to make the best gins we can and share them globally while building a profitable business and creating a culture and brand that our staff and our customers embrace.
“To achieve this mission, we:
- Develop and distill all our gins ourselves using traditional small-batch distillation techniques.
- Work with strategic best-in-class partners for the packaging, distribution and sales of our gins.
- Innovate in product, packaging and process to provide consumers choice when drinking our gins.”
On the fundraising page, the company added: “The West Winds Gin is all about two things: our Gin and our customers. Therefore, raising capital through equity crowdfunding was the natural choice as we wanted to give family, friends and supporters the opportunity to join us on this journey.
“If you’re not familiar with our story, we’re a merry crew who, since 2010, having been making damn fine Gin in Western Australia. We sought new frontiers using Australian botanicals, with a selection of other more traditional ingredients.
“Over the seven years we’ve crafted different Gins that have won double Gold three times at the San Francisco International Spirits Competition and Australian Champion Gin three times. We seek perfection and practice precision but we’re adventurous enough to bend the rules along the way, resulting in a range of Gins to rival the finest in the world.”
The offer was launched last week, and is scheduled to run until 17 July, 2018 and at the time of publishing $593,000 has so far been invested in the company.