UK rum distiller DropWorks plans to launch a crowdfunding campaign to establish a premium global rum brand, targeting a $20 billion market. Sales have grown over 300% year-on-year, with distribution in a third of the UK’s top bars. The company aims to revolutionize the rum market with quality products and innovative branding.

Founder Lewis Hayes seeks further investment to expand production, increase stock, and grow the team to promote the brand’s message. Despite low margins, DropWorks prioritizes quality over immediate profitability, focusing on establishing a strong brand presence in the market. Sales are growing steadily, with a focus on brand development for future success.

Former Diageo executive, Graham Appleyard, joins DropWorks as CEO in March. The company aims to redefine the rum category by offering high-quality, premium products that challenge traditional mass-produced options. DropWorks believes rum has significant potential for growth and aims to lead the premiumization trend in the spirits industry.

Read more at Yahoo Finance: UK rum distiller DropWorks readies crowdfunding