While expensive gin may be a contradiction in terms to some, it appears to be a winning combination with buyers.
Shanken News Daily reports that while, “Gin continues to struggle in the U.S. market…there’s excitement at the high end. Driven by William Grant & Sons’ Hendrick’s (roughly $30 a 750-ml.), gin’s ultra-premium tier is rapidly expanding from a small base. ‘We’re seeing some really positive things [in] the upscale gin segment,’ says a brand director for Pernod Ricard, which owns Beefeater ($15) and Plymouth ($26) gins. ‘That segment has been growing by about 5%.’”
Gin hasn’t embraced flavors as aggressively as vodka or rum, but it has evolved in recent years. The classic “London Dry” style, which is very juniper-forward, was long the standard. Today, more “fruit-forward” gins such as Hendrick’s have emerged to expand gin’s appeal.
Hendrick’s is a cucumber-and-rose-infused gin, and it earned a “Hot Prospect” award following a 36.5% jump in the U.S. market in 2010.
Lower down the pricing scale, another strong performer has been E.&J. Gallo’s New Amsterdam gin ($10). Last year, the brand grew by 10%.