Australian alcohol subscription service, Liquor Loot’s rapid growth has sparked fresh investor interest, raising $1.5 million in a new funding round.
Liquor Loot, which operates Gin Loot and Whisky Loot curating collections of the respective liquor for enthusiasts, has been experiencing what founder and CEO Joel Hauer describes as “significant growth” during the pandemic-driven lockdowns.
The new funding round was led by Tony Gandel from Gandel Investments, and Koala founder Dany Milham.
Hauer said the funding will allow the business to continue its growth.
“While I am very proud of what we have achieved to date, I believe we are still at the beginning of our journey. We have the vision, and are determined to create a global category leader from Australia.”
Since launching in 2016, Liquor Loot’s sales have trebled each year thanks to its unique tasting subscription business model, with the platforms sending subscribers three premium and hand-selected whisky or gin tasters from around the world each month. Last year it achieved 40,000 deliveries and expects to double that number this year.
According to Hauer, Gandel sees potential for Liquor Loot to grow locally as well as potentially launching in overseas markets including in Asia and the US.
“There is a strong history of Australian direct to consumer companies, such as Koala, enjoying rapid success in these markets,” Hauer said in a statement.
This year, Liquor Loot has expanded its relationships with global liquor companies including Diageo, Pernod Ricard, Moët Hennessy and Proximo and has forged retail partnerships with David Jones, Aldi and Qantas.