Miami Beach, Florida, Jan. 16, 2021 (GLOBE NEWSWIRE) — Despite COVID-19 complicating the accessibility of alcohol at restaurants and local retailers, the spirits industry has actually shown an increase in demand since March 2020.
The International Wines and Spirits Record (IWSR) recently announced that “premium-and-above spirits are forecasted to increase their global volume market share to 13% by 2024 as consumers continue to favor quality over quantity.”
For premium-spirit businesses owners like Karl J. Schoen’s, this news shines a much-needed light on a frighteningly somber situation.
Schoen is the founder and president of The Perfect Fifth: an award-winning, Miami-based independent bottling company specializing in bottling single-malt scotch whisky. His company is recognized for selecting and bottling the most uniquely tasting, high-quality single-malt scotch from the finest distilleries in Scotland.
While bigger branded whisky companies are known to push out thousands of bottles from their virtually unlimited blended casks, Schoen’s company concentrates on having its bottles hold well-matured single-cask whisky with ABV ranging anywhere from 47-56%. The main difference between the branded bottlers, however, is distinguished in product rarity. Single-casks can only produce a certain quantity of bottles per barrel, depending on its size. The bottles are then sold as an exclusive limited item that cannot be replicated or remade once the barrel is used up and the bottles are distributed.
In circumstances of a pandemic, Karl’s company is lucky to remain largely unaffected. Due to his company working solely off of their existing resources rather than basing off demand, they have been able to continue conducting business regularly.
Their production lines in Scotland, however, have indeed been affected as a result of the worldwide pandemic. Supply chains have severely backed up due to a high number of workers being furloughed. Karl admits that the company has had to readjust their timely-sensitive expectations in order to be more patient and work around the given unalterable conditions. But given the benefit of having a fairly new company with only five employees and plentiful resources, he remains comfortable in the midst of an issue that could have been detrimental.
Nevertheless, The Perfect Fifth will continue to carry on with their projected initiatives and will release five more bottles by the end of the year. Each bottle will contain their usual 750mL, and prices will range from $800-3,000. For more information, visit ThePerfectFifth.com or follow them on Instagram at @perfectfifthspirits.