Drinks giant Moët Hennessy is moving production of its flagship rum brand 10 Cane to Barbados from Trinidad & Tobago.
The Paris-headquartered company will be distilling, blending and bottling its rum at the Foursquare Rum Distillery in the Caribbean island nation’s capital of Bridgetown.
The Barbados government said the location shift, which will mean a new facility for distilling, blending and bottling the rum is expected to bring in as much as $50 million in foreign exchange.
“Rum is a distinct Barbadian product, and I believe that we are the home of rum, and that is something that I don’t think we have fully capitalized on as yet,” said Donville Inniss, Industry Minister of this Caribbean island nation.
“This is very exciting because this brand having been established world-wide, it has a track record, so we are not starting from zero,” said Sir David Seale chairman of Foursquare. “We are starting from a point that it is a guarantee amount that we can produce … . Our sums will say that it is quite possible that we will earn in excess of $100 million (Barbadian dollars, which are 50 cents per American dollar) in foreign exchange over the next five years.”
Inniss said Barbados is not a low-cost location for manufacturing. As a result “we have to tap into the niche areas and rum is a product that is synonymous with Barbados and, therefore, we have to exploit fully the rum industry. This means … making use of an ultra-modern plant distillery and creating niche products.”