Ginmeister-owned Pinkster has raised £1.1 million in private finance as it aims to scale up its business and boost sales of its raspberry-infused gin.
Since launching in 2013, Pinkster has enjoyed exponential growth. In 2016, the business raised £1 million, smashing its initial £600,000 crowdfunding target in six weeks.
The new money is being allocated to increasing sales reach, extending brand marketing and boosting production.
Pinkster managing director Stephen Marsh said: “This successful fundraise is a fitting close to a momentous year. The fact that we were able to raise a seven-figure sum through friends and family, speaks volumes about the robustness of the business model, the strength of the product, and the opportunities ahead.
“Backers include our directors, assorted employees, existing investors, and personal connections. All have bought into the fact that we’re a pink gin pioneer with a distinctly fruity USP.”
He added: “Ironically, given the subsequent explosion of pink gins, we didn’t set out to make a pink drink. After working our way through a fruit bowl all those years ago, we discovered that raspberry worked mighty well with the juniper, delivering the best flavour.
“We’re passionate about sustainability, and the inebriated raspberries left over from producing Pinkster are used in three natural by-products, Boozy Berries, Gin Jam and Pinkster Royale.
“Whilst we don’t have the marketing muscle of the major brand owners, we have a premium positioning and an unswerving commitment to fresh fruit. This marks us out from the pack and underpins our recent creative campaign ‘The Do’s and Don’ts of Pink Gin’.
“Our mantra is to focus on the flavour rather than the just colour. In other words, there’s much more to choosing a gin than its wow factor on Instagram.”
In August, Pinkster invested a six-figure sum to update its pink gin packaging and start the new creative campaign.
In the first label change since the company launched, a shortened tagline ‘made with real raspberries’ has been rolled out across its 70cl, 35cl and 5cl range of pink gin bottles.
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