© 2019 Bossman’s All rights reserved. This book or parts thereof may not be reproduced in any forms, stored in any retrieval system, or transmitted by any means—electronic, mechanical, photocopy, recording or otherwise—without prior written permission from the Bossman’s corporate office, except as provided by United Kingdom copyright law.
CONTENTS 01 03 05 07
Synopsis
Letter from the CEO
Reviews
Executive summary
Highlight reel Financial report
Roll the credits
Information & Board of Directors
CEO
LETTER FROM THE
ANGUS
MULBERRY
Dear fellow shareholders, I begin this letter with pride as Bossman’s has grown in incredible ways since its establishment in 2012. Our company is not just existing, but thriving. It is with great pleasure I present Bossman’s annual report for the 2019 fiscal year. Though this year brought political unpredictability, Bossman’s celebrates a year of blockbuster (or should I say, boxbuster) success as we established 1,200 international wholesale partnerships with pubs, grocery chains and liquor stores bringing in £7.8 million. We also opened our Notting Hill brewery offering tours and tastings. This unprecedented community engagement allows our customers to connect with the people behind the whisky. These numbers and other key factors allow me to say with confidence, Bossman’s will be around for awhile serving up your favorite whisky. We invite you to join us looking forward to a future of innovation. Thank you endlessly for your confidence and contribution. Every good wish,
Angus Mulberry Founder & Chief Executive Officer Annual Report 2019 • 2
REVIEWS
EXECUTIVE SUMMARY Wow. All we can say is what a year. Our expansion didn’t stop with our Bossman’s began as an off-hand idea when someone spilled a drink on our founder and chief executive officer. The rest, as they say, is history. We continued that method of serving customers products before they knew they needed them. That innovation is what made this year an absolute boxbuster success.
“
Every choice we made as a company this year was calculated. That intention brought us our biggest year of sales, with £7.8 million in revenue, 1,200 new wholesale partnerships and the expansion of our warehouse into a retail space. We Bossman’s believes focused our team on in the power of product innovation nostalgia. We pursue this year as we every venture with raised £350 million customer experience in research and development capital. in mind. With all those funds, we have plans to launch at least three new product lines in the next two years. We take our time at Bossman’s. We’re not about to rush perfection. We will say you can expect to be blown away.
3 • Bossman’s
products. It includes our team. We welcomed our 165th employee this year and as we continue to grow at an unprecedented rate, we expect our numbers only to rise. We are going to establish our first international headquarters in Los Angeles, California in the fall of 2020 as our international markets grow. As we expanded into five continents this year, we know our global presence is one of our greatest assets. We can’t wait to keep up with that rapid expansion going as we continue to enter pubs, bars, liquor stores and festivals all over the world. Our final project we are excited to share with you is the launch of our redesigned website, which is optimized for mobile as that e-commerce market continues to thrive. We spent a lot of time with designers, developers and testers to make sure the customer experience was optimized on all levels. We’re thrilled to offer products with a unique experience. As always Bossman’s doesn’t have time to spew bullsh*t, we’re too busy making wicked-good whisky.
HIGHLIGHT
“ REEL
FINANCIAL BREAKDOWN
Here’s the breakdown of all the important numbers from this year. Everyone at Bossman’s couldn’t be prouder of our achievement and these financials back up our excitement. From raising £350 million in capital for product innovation to partnering with wholesalers on five continents, there’s a lot to be proud of.
Bossman’s is about innovation and putting products in people’s hands before they even think about needing it. That is why we had an allstar year. We know our customers. —Angus Mulberry
STOCK EXCHANGE
3600
Bossman’s continually outperformed the London Stock Exchange throughout the past four quarters of the 2019 fiscal year.
3000 2400
Bossman’s 1800
FTSE Largecap
1200
FTSE Smallcap
600 0 Q4 2016 5 • Bossman’s
Q1 2017
Q2 2017
Q3 2017
Q4 2017
£7.8 million TOTAL REVENUE
68.2%
The percent increase in wholesale revenue
24.5%
The percent increase in retail revenue from tastings
Bossman’s Signature Whisky Box
GLOBAL IMPACT
CUSTOMERS
We’re not just interested in performing well in our hometown of London. We tailor our products to serve the global market. Although tastes may be different across the world, there’s one thing everyone enjoys: having a good time.
The core of our business comes from our customers. We asked them about their experience with Bossman’s products. Here’s what the 10,000 respondents had to say.
76%
Said Bossman’s was their first whisky choice
94%
Said Bossman’s is their drink of choice at pubs
BOSSMAN’S CUSTOMER SATISFACTION RATING
Bossman’s is served on
5
COMPETITOR CUSTOMER SATISFACTION RATIING
98% 62%
continents Annual Report 2019 • 6
ROLL
THE CREDITS
CONTACT 280 Westbourne Park Road Notting Hill, London W11 +44 20•7266•7000 info@bossmans.com bossmans.com STOCK LISTING Bossman’s stock is traded on the London Stock Exchange on the FTSE Smallcap. Its code is BSMN. SHAREHOLDERS MEETING The annual meeting will be held on Friday, August 9, 2019 at 11:00 a.m. at Bossman’s Headquarters, located at 280 Westbourne Park Road, Notting Hill, London W11. AUDITORS Ernst & Young 6 More London Place London, SE1 2AF
CHIEF EXECUTIVE OFFICER Angus Mulberry EXECUTIVE VICE PRESIDENT Lorna Harbor CHIEF FINANCIAL OFFICER Gerard Crotty CHIEF CREATIVE OFFICER Hazel Jones CHIEF OPERATIONS OFFICER Rashid Majeed VP OF COMMUNICATIONS Lorna Harbour ADMINISTRATIVE DIRECTOR Nigel McLachlan ADVISORY DIRECTOR Olivia Nightingale ADVISORY DIRECTOR Paul Carter
Annual Report 2019 • 8
IT’S BEEN A BOXBUSTER YEAR. WE CAN’T WAIT FOR THE NEXT.