Global Brands sees sales and profits rise
VK supplier Global Brands has announced it grew sales by 16% to £42 million in the year to September 30, 2017.
Gross profit also went up by £1 million to £11.8 million and it has increased the size of its workforce to more than 160 to cope with increased demand for its products.
It said that VK volume sales were up 20% and that it now accounts for almost a quarter of the RTD market.
Growth was also driven by the performance of its Franklin & Sons range of tonics, mixers and soft drinks, which launched in 2015 and grew 281% in the past year.
Going forwards, it has high hopes for its new Crooked Beverage Co. alcoholic soda brand, ready-to-serve cocktail brand London Rd and its distribution deal with Brewdog’s spirits arm, Lone Wolf.
Global Brands founder and chairman Steve Perez said: “Consumer demands and taste preferences sit at the heart of what we do and is really driving our growth to keep pace with a fast-changing market.
“Understanding what people want, whether that’s premium tasting mixers made using only natural ingredients or something different to sweet tasting fruit ciders, has seen us trailblaze.
“We created the alcoholic soda drinks category and established ourselves in the highly competitive premium tonics, mixers and soft drinks market.”
Global Brands recently announced that it will distribute the Lone Wolf spirits range, and it expects this to see sales grow by £40 million over the next two years.