Subscriber login Close [x]
remember me
You are not logged in.

Pinkster gin launches £600,000 crowdfunding campaign on Growthdeck

Published:  04 April, 2016

Pinkster gin, the producer of raspberry flavoured and lightly coloured pink gin, has launched a crowdfunding campaign in an effort to raise a minimum of £600,000.

The campaign is being launched on a new crowdfunding platform Growthdeck. The minimum amount of investment is set £1,000 per investor and Pinkster is not going to raise more than £1m.

According to the Stephen Marsh, who founded Pinkster gin in 2013 in his kitchen, is planning on using the funds raised to expand the business. He said: "With the current gin renaissance showing little sign of abating, we've been busy signing wholesaler deals which has given us a strong foothold across the on-trade and off-trade. As gin sales continue to accelerate globally, we're now looking to move premises, staff up, provide increased trade support and take the business to the next level."

Pinkster GinPinkster GinPinkster Gin

Marsh is also looking at expanding production capabilities to meet the growing demand. "Our turnover has tripled in the last 12 months. We need additional staff, need more production kit and space in order to keep up with demand," he said.

Most recently Diageo's previous on-trade director Martjin van Buuren joined Pinkster to help develop a more comprehensive strategy for the channel.

Also is the future Marsh is considering possibly expanding its range of products. "We have some pretty exciting ideas and may want to have some additional product variations," said Marsh.

The gin is currently carried in more than 500 different outlets across the UK.

Ultimately, Marsh is hoping to build the brand that may potentially be a "trade sale in 4-5 year time period" according to the 'exit strategy' on the Growthdeck pages set up for investors.

But for the moment Marsh is more focused on growing the business sustainably. Marsh said: "I am concentrating on getting tomorrow right. We have a great product and a great brand. I think the gin craze is still at its early stages. We have a bright future and now are hoping to raise resources that will help make us into a world-class brand."