Australian aperitif manufacturer, Tanica, is aiming to raise capital in order to launch a ready-to-drink product line, amplify production, and increase its export operations throughout the Asia-Pacific region.
This fundraising effort comes as Tanica moves into the season where spritz drinks are most popular, following its national distribution deal with Iconic Beverages two months ago to speed up its country-wide growth. In the last two years, Tanica has seen a 159 per cent increase in sales, while the gross profit has surged by 171 per cent in the prior year.
A Local Alternative
Adriane McDermott, the Founder and CEO, stated that the firm is increasingly establishing itself as a domestic alternative in a market still largely controlled by traditional imported goods, with over 70 per cent of aperitif sales in Australia being imported from Italy.
She questioned why their best times with friends should be marked by imported summers, when their coastal lifestyle and native flavours narrate a tale that is uniquely Australian.
She explained that her ambition with Tanica is to kindle a new admiration for what is available in their own backyard, offering the spritz a fresh position globally. One that is produced, tastes, and feels genuinely Australian.
According to Tanica, the impending raise will finance its marketing and production augmentation, as well as its ready-to-drink product push in anticipation of the summer season. The funds will also aid the brand’s path to profitability over the next year and a half by assisting it in increasing distribution by four to five times and evaluating export possibilities in the US and Asia-Pacific region.
Rebrand & Resurgence
In November, McDermott reinvented the brand’s identity, focusing on its coastal lifestyle positioning and local flavours following the withdrawal of funding from the Distill Ventures program. Since then, Tanica products have been featured in over 150 bars across the nation, recording a repeat order rate of 68 per cent among customers, with online sales making up 17 per cent.
The window for expressing interest in the capital raise is currently open, with early registrants receiving priority access when the offer begins on August 25.
Questions & Answers
What is Tanica’s aim with the capital raise?
The capital raise aims to develop a ready-to-drink range, double production, and expand exports across the Asia-Pacific region.
What significant growth has Tanica experienced in recent years?
In the past two years, Tanica has recorded a 159 per cent increase in sales and a 171 per cent rise in gross profit over the previous year.
What is the primary objective of Tanica’s rebranding?
The primary objective of the rebranding is to emphasise Tanica’s coastal lifestyle positioning and native flavours, differentiating it as a locally-produced alternative in a market dominated by imports.
