Australian aperitif brand Tanica is targeting a capital raise to develop a ready-to-drink range, double production and expand exports across Asia-Pacific.
The crowdfunding comes as Tanica enters peak spritz season, two months after signing a national distribution agreement with Iconic Beverages to accelerate its nationwide expansion. Over the past two years, the brand has recorded 159 per cent sales growth, while gross profit has risen 171 per cent over the past year.
Founder and CEO Adriane McDermott said the company is increasingly positioning itself as a local alternative to a category still dominated by traditional imported products, with more than 70 per cent of aperitif sales in Australia imported from Italy.
“Why should our golden-most hours with friends be defined by imported summers, when our coastal lifestyle and native flavours tell a story that’s entirely our own?,” asked McDermott.
“My aim with Tanica is to spark a new appreciation for what we have in our own backyard, giving the spritz a new place in the world to shine. One that’s made, tastes, and feels like here.”
According to Tanica, the new raise will fund its marketing and production expansion, as well as its RTD rollout ahead of summer. The funds will also support the brand’s path to profitability over the next 18 months by helping it increase distribution four- to fivefold and test export opportunities in the US and Apac region.
McDermott relaunched its brand identity in November, doubling down on its coastal lifestyle positioning and native flavours following the cancellation of funding from the Distill Ventures program. Tanica has since been stocked in more than 150 bars nationwide, recording a 68 per cent repeat-order rate among customers and 17 per cent online.
Expressions of interest for the capital raising are now open, with early registrants getting first access when the offer commences on August 25.
