Pink 47 Market Position
Although gin has a long history it has a relatively small following compared to Vodka. However, the surge of growth in premium white spirits, led by vodka, is inspiring the development of flavoured vodkas and this is leading to gin, which is a white spirit flavoured mostly with Juniper, becoming more fashionable along with the movement of other white spirits, such as Tequila, into premium categories.
London 47 fills a gap for a hand-made, non-mass produced gin with crafted credentials. They are positioned as being premium Gins aimed at being better than most on the market.
This is no quasi vodka/gin offering. It is very definitely a London Dry Gin of the first order with a distinctive unique flavour, weighing in with 47% alcohol by volume and offers both the trade and consumer a product which they can trade up to.
With a price on the UK market between £17.99 and £19.99 per 70cl bottle, Pink 47 has attained a price position above the ubiquitous Bombay Sapphire but below Hendricks to sit alongside Tanqueray as its nearest competitor.
Whilst the market share of premium gin is decidedly small at 2% to date (mainly Hendricks and Tanquery), there is plenty of room for growth. Other super-premium gins are being introduced or under development, which will help to further define the category (yet fail to present a threat because of price position). This highlights confidence in the ongoing growth of the upper echelons of the gin category.
All the signs in the premium and super-premium sectors of both the gin and white spirits categories are good.
Pink 47 has ‘shelf presence’ and provides and all the signs in the super-premium sector of the gin category are good.