SipWell defies the odds — 35% ahead of target after lockdown chaos
With over 30 years experience in the drinks industry, Andrew Torrence and Calum Lawrie, decided to launch their own distribution agency servicing the Global Travel Retail (GTR) channel, in February 2020. Less than four weeks later, the GTR channel and SipWell customers shutdown overnight due to the Covid pandemic.
Despite the extreme challenges, Andrew and Calum have been able to grow their agency, alongside launching a few brands of their own, like Fable Whisky. After partnering with Fero, they’re now 35% ahead of where they expected to be on their journey – and they are just getting started.
Challenges SipWell faced
- Launching a distribution agency focused on Global Travel Retail channel in February 2020, with lockdown going into effect within 4 weeks
- 2023 to 2024 was a big step change and put pressure on cashflow as SipWell took on more clients
- Cashflow need to drive growth for clients
Why they've partnered with Fero
✅ Funding growth
Using funding to release capital meant SipWell ‘could play the opportunities’ and helped them to win more clients. They were able to make fast because they were able to growth that client’s orders from 10Ks units to over 100Ks units.
"For a company like ours dealing in high-value goods – where a single bottle can be on the premium to luxury side of costing – cash flow is king. What Fero allowed us to do was take opportunities when they came. A Hine Cognac listing with Heinemann pushed our orders from tens of thousands to hundreds of thousands.
Without Fero we wouldn't have the ability to take that on.
We’re probably 30% to 35% ahead of where we’d expected to be without Fero's support.
Results with Fero
- Used Fero funding to grow client numbers.
- Unlock bigger sized deals that previously would have been too difficult to manage from a cashflow perspective.
- Increased the speed of expansion to achieve growth targets sooner.
+35% AHEAD OF GROWTH TARGETS
+£100k IN VOLUME GROWTH
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