NEW YORK (TheStreet) -- William Grant & Sons is launching a new a drink, "Glenfiddich the Original." Peter Gordon, the company's director, said the distillery is launching the new drink to commemorate and celebrate the company's creation of premium malt whisky.
In 1963, Gordon's father and uncle were the first people to "put single malt whisky into a premium package and start marketing it as a premium to blended Scotch whisky," he explained.
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In order to keep the brand name strong and have consumers associate William Grant & Sons with premium spirits, Gordon said the company began to sell high-end variants and different age variants of the drink.
This method is especially effective in the U.S., France and United Kingdom, but is unnecessary in China. In the region, "entrepreneurs and wealth creators still have an appetite for high-end Scotch at the moment," he said.
Irish whiskey sales have been strong in the U.S., but Gordon believes that many customers who reach for "Glenfiddich the Original" won't cannibalize sales of Tullamore Dew, the company's blended Irish whiskey, because it is unlikely that only whiskey drinkers will be interested.
Interested customers might normally take other drinks as well.
-- Written by Bret Kenwell