Salford Rum Surpasses £250K Crowdfunding Goal in Record Time
The Salford Rum Company has exceeded its crowdfunding target, raising nearly £300,000 (US$378,577) on Republic Europe. In just one hour, the campaign surpassed its initial goal of £250,000 (US$315,481), demonstrating the brand’s strong market appeal and loyal customer base.
Expanding Production and National Reach
With this new investment, Salford plans to scale up its distillery operations, enhance its presence across the UK, and solidify its reputation as a producer of premium spirits. The company, based in Salford, Greater Manchester, currently offers a range of high-quality rums, including its flagship spiced rum inspired by Caribbean flavors, as well as honey and coffee-infused variants and a cream liqueur.
A Local Brand with National Ambitions
Founded in 2018 by childhood friends Tommy Gaughan and James Harrison, Salford Rum set out to create a premium local rum that could compete with luxury gins. Over the past seven years, the company has expanded significantly, opening its own distillery and brand home at Arch 22 on Viaduct Street, Salford. Today, Salford Rum holds a valuation of £2.7 million (US$3.4m) and continues to experience impressive growth.
Sales Growth and Market Presence
Salford Rum has achieved 100% year-on-year sales growth, generating £1.25 million (US$1.5m) in net revenue in 2024. Reflecting on the success of the crowdfunding campaign, co-founder Tommy Gaughan shared, “We started Salford Rum with just £5,000 to produce our first 100 bottles while managing full-time jobs. We’ve built this brand without major investment, and reaching this level is an incredible milestone.”
A Growing Community of Investors
The decision to seek investment for the first time aimed to accelerate growth and invite supporters to become equity partners in Salford Rum’s journey. Gaughan noted that the overwhelming response exceeded expectations, with the campaign initially projected to reach £200,000 (US$252,392) within the first day. However, the brand’s dedicated following and strong market presence pushed contributions beyond that estimate.
As of February 25, Salford Rum had secured £294,292 (US$371,384) from 149 investors. The crowdfunding campaign will remain open until March 26, 2025.
Retail and International Expansion
Salford Rum products are available at major UK retailers, including Selfridges, Waitrose, Co-op, and Morrisons. The brand has also expanded into World Duty Free stores and established an international presence in Canada and Hong Kong.
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Source of information
The Spirits Business’ Article: Salford Rum smashes £250k crowdfunding target, written by Rupert Hohwieler
The image of the article is courtesy of © Andris Salmins via Canva.com
