East London Liquor Company hits 80% of crowdfunding target in one day
Craft spirit producer the East London Liquor Company, which also operates a restaurant and bar in London, has reached 80% of its crowdfunding target to pay for overseas expansion in one day.
The campaign on Crowdcube which launched yesterday stands at £614,300 from 101 investors.
It aims to reach £750,000 to fund international expansion in New York, Toronto and China where it intends to launch before the end of 2018.
The gin, vodka, rum and whisky distillery was founded by Alex Wolpert in April 2014. He works alongside head distiller Tom Hills and a team of 30 produce over 12,000 bottles a month and export to 20 markets.
Businesses supplied by the company include Hix, Bob Bob Ricard, the Zetter Townhouse and 45 Jermyn St.
Following the investment, the East London Liquor Company wants to quadruple its production and generate £9.6m in sales by 2022.
Rewards for investment range from a gin and tonic, t-shirts and tote bags to a three-course meal in the restaurant, pre-paid bar tabs and private parties.
The company runs a bottle shop, restaurant and bar within the brand's distillery, an old glue factory in London's Bow Wharf. It also operates a second bottle shop in Borough Market.
