Market Watch, September 2018

60 MARKET WATCH MARKETWATCHMAG COM SEPTEMBER 2018Teeling says citing a number of limited edition line exten sions the brand has debuted Were filling in the gaps in Irish whiskey in terms of the spectrum of expressions and styles that people have grown accustomed to Thats an objective echoed by many rival producers in the Irish whis key space today as craft and mainstream distillers blenders and bottlers look to create a distinct identity for Ireland in the midst of the wider brown spirits boom Jameson DominatesEven amid this wave of change the lions share of Irish whiskeys growth continues to come from longtime leader Jameson which holds an 83 share of the category in the United States accord ing to Impact Databank With over 32 million cases depleted in 2017 the Pernod Ricard owned brand is by far the dominant presence in Irish whiskey and its extending upward from its core label A series of higher end expressions are inspiring new conver sations about the brand and supporting further growth Weve seen an increase in understanding and appreciation of Irish whis key among whisk e y drinkers says Jameson brand director Matt Foley In response weve expanded the portfolio to meet the demand for more inventive and premium expressions Jameson began innovating at the higher end in 2011 with the launch of Jameson Select Reserve Black Barrel 40 a 750 ml a bottling of small batch grain whiskey thats triple distilled once a year then matured in flame charred Wild Turkey Bourbon casks and blended with single pot still Irish whiskey thats aged for 12 years in ex Bourbon and ex Sherry butts That release was followed up first in 2015 with the debut of Caskmates 30 a series of blended Irish whiskies finished in craft beer barrels and then in 2016 by Coopers Croze 70 which is matured in virgin American oak seasoned Bourbon and Iberian Sherry barrels While Black Barrel and Coopers Croze are smaller more limited line extensions Caskmates has taken on a substantial In the eyes of Jack Teeling co founder and managing director of Dublin based Teeling Whiskey Co Irish whiskey is in the midst of not an evolution but rather a revolution Teeling cites rampant product innovation and significant investment across Ireland which has led to a proliferation of new distilleries At the heart of this frenetic activity is near constant experimentation For the last five or six years at Teeling weve been innovating on the liquid making something quite different and doing so through use of unique casks IRISH WHISKEY CONSUMPTIONIN THE U S 1997 2017 millions of 9 liter case depletions Calendar YearsSource IMPACT DATABANK 2018 1234 17 16 15 14 13 12 11 10 09 08 07 06 05 04 03 02 01 00 99 98 97While whiskey bonding was commonplace in 19th century Ireland by the early 1900s most bonding operations had shuttered with the collapse of the Irish whiskey industry Today Chapel Gate Whiskey is restoring the practice under the guidance of founder and CEO Louise McGuane PHOTO BY JOHN KELLYMW0918_