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EDINBURGH - The Artisanal Spirits Company (AIM:ART) has signed a new franchise agreement with PNM Tech Beverages to enter the Indian market, according to a press release issued Thursday.
The company, which owns The Scotch Malt Whisky Society (SMWS), Single Cask Nation (SCN), J.G. Thomson and Artisan Casks, expects to make its first product shipment to India in the coming months, pending label registration completion.
This expansion follows SMWS’s recent launch in Vietnam earlier this year and builds on the company’s previous market entries in Korea and Taiwan in 2023, complementing its established operations in China and Japan.
India represents the largest global Scotch Whisky market by volume, according to data from The Scotch Whisky Association. The company noted that while initial returns from the Indian market are expected to be marginal, it views the long-term opportunity as an important area for future growth.
In a separate development, the company’s Single Cask Nation brand has begun exporting to Brazil in the third quarter of 2025. This follows SCN’s entry into Denmark in the second half of 2024.
According to data cited in the release, Brazil ranks as the world’s 15th largest market for Ultra-Premium Whisky, with sales more than doubling over the past five years to reach $158 million, of which 94% is Scotch.
"We are continuing to build the SMWS business for the medium to longer term, growing our global presence with entry into exciting new markets such as India, as well as developing new opportunities for SCN," said Andrew Dane, CEO of Artisanal Spirits Company, in the statement.
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