Renais Gin, the spirits brand co-founded by Harry Potter actress Emma Watson, has charmed investors into a $6.18 million raise, the company announced today.
Having launched in the U.K. in May 2023, sibling founders Alex and Emma Watson secured a five-year strategic distribution partnership with Republic National Distributing Company (RNDC), and started their U.S. rollout in California and New York last summer with plans to expand to other states this year.
Now, the funding will aid a continued push into new states with fresh marketing campaigns, as well as launches in France, Spain, Dubai and Canada slated for this year. The brand is sold in 11 other countries with disbursement agreements in a further 22.
InvestBev and Jean-Sébastien Robicquet of French spirits company Maison Villevert lead the raise. Renais has also bolstered its board with Jimmy Weir, the former CFO of wine company Laithwaites Group.
“The premium gin category continues to demonstrate remarkable potential, and Renais Gin’s quality and sustainability credentials align perfectly with our strategic investment focus,” said Brian Rosen, general partner at InvestBev.
Renais is among a crop of higher-end gin brands aiming to capitalize on the spirit’s premiumization trend, which has shown a slightly longer life than other spirit categories. Ultra gin ($35+) was the only segment to experience sales growth (+3.9%) in the last 52 weeks ending November 30 in off-premise outlets, according to NIQ. Gin is also gaining popularity as an RTD base, driven by legal-drinking-age (LDA) Gen Z consumers, according to IWSR.
Gin hit its peak in the U.K. a couple of years ago, with analysts recommending that founders head for new markets and find whitespace in flavor innovations. While the British gin market may be slightly more traditional – made up of established heritage brands – major spirits companies and investors have begun to back emerging global or sustainable gins, which are expected to push innovation trends forward. Those deals include Brown-Forman’s addition of Spanish Gin-Mare and Gallo’s backing of Mexican Condesa Gin. Other high profile celebrities, like Dr. Dre and Snoop Dogg, have put their weight behind the spirit this year.
Renais is built on the founders’ family history in winemaking, with the liquid distilled from some of the family’s own winery surplus produce in Chablis, France among other upcycled French wine pressed grapes. Renais is also touting popular sustainability attributes: a solar-powered distillery and a bottle housed in 100% mycelium-based compostable packaging made by the Magical Mushroom Company.
Within the business, the co-founders have taken on different roles: Alex Watson is no stranger to the hospitality and beverage industry, after working three years for Diageo’s Reserve portfolio. His sister Emma has also contributed on the creative side, directing and styling an extended campaign video to celebrate Renais’ U.S. release.
Renais planned to enter on-premise first via popular cocktails, Alex Watson told BevNET last summer, while pushing direct-to-consumer sales of the $65 bottle across 40 states. Gin is relevant in the U.S. due to its versatility, Watson argues, but “there’s more room for innovation and education,” he said.