East Imperial (EISB) , a producer of premium beverages, announced a new partnership with Air New Zealand, to supply the airline with its first signature drinks onboard its international network. The partnership will see the new products featured in business premier cabins on Air New Zealand's New York and Chicago routes. It will be available from late August 2023.
"The seasonal drinks are a nod to local ingredients with a dash of creativity and provide a taste of New Zealand's finest flavours at 30,000 feet. The first drinks are gin-based cocktails but can also be served as an alcohol-free option." East Imperial said in a statement.
Air New Zealand said it will seek customer feedback on the new cocktails, and look to introduce other signature drinks on a seasonal rotation.
The partnership marks a significant milestone for East Imperial, which prompted a strong reaction from markets. EISB shares jumped 9.4% on the news in early Friday trade. Being featured onboard a major long-haul airline will give East Imperial significant exposure to high-income American consumers.
The company has been aggressively expanding its US footprint with a recent distribution agreement with Republic National Distributing Company and bottling partnership with The Lion Brewery.
In New Zealand too, East Imperial is already well established building up to today's announcement, being the top premium on-premise mixer in the country. Off-premise growth has been impressive as well, as New Zealand's largest food retailer extended the company's placement across 102 North Island stores last year. With this, East Imperial is now found in all New Worlds and their competitors, Countdown (110 stores), across New Zealand.
In its most recent full-year results for FY22, East Imperial reported 14% higher sales to £3.2m compared to last year, driven by growth in all abovementioned key markets and APAC, off-trade (off-premise), and direct-to-consumer channels. In the US, sales were up 68% year-on-year, with strong sales in California, up 71%.
As is typical in the sector, the company's final two quarters saw the strongest revenue performance, with H2 2022 1.4x larger in sales volume than H1 2022. Good Q4 2022 momentum continued into a strong start to FY23, with revenue for Q1 up 41% year-on-year, and overall case sales of 58,246, up 35%.
Looking ahead, prospects for East Imperial remain strong with on-premise and off-premise business steadily growing in the US, New Zealand, and APAC, and even better trading expected in the traditionally stronger 2H 2023.
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