Lambay Whiskey is a new company in the premium Irish whiskey segment. The Irish whiskey category has seen the strongest growth among spirits over the last decade, between 2010 and 2020. Lambay Whiskey's unique characteristic is its finish in cognac casks from the House of Camus, sharing the same entrepreneur. We are therefore a new premium Irish whiskey, less than 5 years old, with its distinctiveness coming from this cognac cask finish, which provides highly differentiating aromatic and qualitative notes, and also from its maturation on Lambay Island, which imparts iodine and marine notes. Lambay Irish Whiskey Company is the meeting of two families, the Baring family and the Camus family, who share the same values of nature preservation, entrepreneurship, and art de vivre. They joined forces to create Lambay Irish Whiskey Co., of which I am co-founder with Mr. Cyril Camus and general manager of this 7-person structure that truly operates in a start-up mode.
Lambay was created from a blank slate, so we're talking about brand and company creation. We wanted to work on the brand's DNA and its positioning, backed by 15 to 20 years of experience in the spirits industry. We had a very precise idea of what we wanted to achieve, both in terms of taste quality, which I mentioned, and marketing. We developed the marketing after working on the product and offer quality, with a specific positioning that we wanted to align with its distinctiveness. We didn't want to make just another Irish Whiskey; we truly wanted a point of differentiation and to add value to the category, reflecting our DNA and expertise. After our product launch and now 5 years of existence, we've experienced rapid growth, with the brand present in 35 export markets, and we're starting to grow our consumer community. Thus, it seemed opportune to evaluate the brand positioning we aimed for and consumer perception. It was at this point that we decided to commission a study to evaluate consumer perception specifically of Lambay Small Batch Blend, our flagship product positioned in the premium Irish whiskey category.
I looked extensively at what was being done in consumer studies. The first advantage of Igonogo is the expertise of its two founders in neuroscience applied to new technologies, a subject that greatly interested us. The second advantage is the agile and flexible nature of their approach. Technology allows us to move quickly and also to be less expensive. These studies are often reserved for large companies with dedicated budgets. Since we operate in a start-up mode, very cautious about every return on investment, the goal was to obtain a significant level of service and quality of information about the brand. There's also the human factor; Igonogo showed good understanding, they are a very responsive team, and the pleasure of collaborating is also important. Based on these criteria, Igonogo represented the best offer on the market we identified today. We discussed with other companies, whether semi-public, like universities, or much larger private companies. Each company, each consumer study panel, has its own methodologies, each with its advantages and disadvantages. And I believe that fundamentally, you have a slightly different approach among others that also matched our needs and resources for the assigned mission.
Igonogo was the best compromise for us, ensuring something conclusive and high-quality, while also offering a certain agility in implementation. The study could also be completed in a relatively short time and without requiring a budget we didn't have. For us, it was perfect.
The preliminary process was interesting. We spent some time with Candice and Florian to clearly define the brief. This preliminary work is, in my opinion, crucial and essential for properly preparing the brief and precisely defining the objectives of this mission. Secondly, for me, not being a professional in the consumer research sector, Igonogo's methodological and pedagogical approach seemed fascinating. Indeed, it's conceptually interesting to understand what lies behind it and what means are used to achieve the final result, dealing with sometimes complex notions while still being able to explain them very simply and understandably.
We obtained consumer perception of our flagship brand in our 3 key markets. This allowed us to validate certain points, such as price positioning in the decision-making process. We were also able to highlight the importance of "social Branding." We also saw what was less impactful, such as "sustainability"; it's important to include it in communication, but it's not necessarily what excites our consumers when it comes to making a purchase decision. Even if it's important, there's truly a gap, a pitfall, between stated intentions and reality. Today, we will rework our communication to our target consumer, but also be vigilant about our positioning during new product launches. We will implement it at several levels, whether digital, in points of sale, merchandising, and packaging. This study serves as an anchor point for corroborating our brand positioning with its DNA and consumer perception. The objective is to re-examine and re-evaluate where there is adherence, where it conforms, to propose what is perceived by the consumer. And perhaps where there is a gap, to make adjustments, improvements, and evolutions later, gradually.
We plan to hold a workshop with my colleagues, and I've shared the study with our service providers for all digital content, to reorient and put it into perspective. We are already seeing benefits; we are in the process of redefining a campaign, which allows me to discuss the product along the lines identified by our study with our consumers. So, we are targeting the consumer by being more relevant in our communication.
Yes, absolutely, we learned a lot about our consumers. I think we will come back to you for several things, perhaps for an even more targeted study. We also have a whole range of products, a bit more niche and high-end, with a different customer typology. I'm thinking particularly of the 20-year-old expression; it would be interesting to see who consumes it, why, and how? We would gain better knowledge across the entire range. And why not conduct a study prior to a product launch to confirm its positioning? We now have the experience of having worked together, we have integrated many things in terms of methodology, and you now know how we operate.
Quality of work, good client understanding, agile responsiveness, human factor, and proactive approach—I hope you remain competitive in the market! For us, as a small structure that is set to grow, you remain one of the best alternatives.
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