West 32 Soju

Keep the party going

West 32 Soju

Keep the party going

New York, NY
Food & Beverage
West 32 Soju was created with a mission to bring soju into the mainstream. Our high quality, versatile spirit has a low ABV and premium branding that resonates with the American craft drinker for their most memorable nights.

$74,697

raised
106
Investors
$4.4M
Valuation
$9.39
Price per Share
$234.75
Min. Investment
Common
Shares Offered
Equity
Offering Type
$250K
Offering Max
9
Days Left

$74,697

raised
106
Investors
$4.4M
Valuation
$9.39
Price per Share
$234.75
Min. Investment
Common
Shares Offered
Equity
Offering Type
$250K
Offering Max
9
Days Left

Bonus Rewards

Get rewarded for investing more into West 32 Soju

$234+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$234+
Investment
All Investors Tier
All Investors 20% discount through 1-877-SPIRITS (www.1-877-spirits.com)
$250+
Investment
Soju Have Swag
West 32 Soju Sticker
$500+
Investment
Soju Think You Can Dance
West 32 Swag Bag (Branded sticker, T-Shirt, tote bag)
$1,000+
Investment
Soju Shake It: + 5% bonus
West 32 Soju Bar Kit (4 shot glasses, a carafe, and a cocktail shaker) Swag Bag
$5,000+
Investment
Soju Make Cocktails: + 10% bonus
West 32 Soju Bar Kit West 32 Swag Bag A one (1) hour cocktail making class with Coquetel Spirits (up to 6 friends via Zoom or other preferred video conference site)(supplies not included)
$10,000+
Investment
Soju Want to Distill: + 15% bonus
West 32 Swag Bag West 32 Soju Bar Kit Free Distillery Tour and Tasting at Yankee Distillers for you and up to 3 friends. It includes a 1-night stay at a hotel (2-rooms included) and free samples (excludes airfare and ground transportation).

Reasons to Invest

Awarded as Gold Winner Soju Producer of the Year in 2017 and 2019 in the NY International Spirits Competition, featured in the NY Times and Wine Spectator
Our revenue has grown 28% from 2018 to 2019 with a 45% increase in annual cases sold, and expanded distribution from 3 to 13 states
Soju is the one of the best selling distilled spirits in the world and the US is one of the fastest growing soju markets, with a growth rate of 15% year over year for the past 3 years

“Savor the moment with West 32 Soju”

Our Story


Korean Tradition, American Craft

Founders Dan and Max were inspired to build West 32 Soju from the memorable dinners and nights out they shared on West 32nd Street in New York City’s Koreatown in their mid-20's. Despite their love for the soju experience, as they got older, they couldn’t  avoid the "soju hangover" — it nearly put an end to their frequent nights out in Koreatown. After doing some research, they were shocked to find that the worse-than-average hangover comes more from the artificial sweeteners like stevioside or saccharin, and other highly processed ingredients found in mass-produced soju. 


They knew they could do better. At that moment, they decided to develop an approachable, high-quality Soju that allowed friends to keep the party going while introducing one of the most popular spirits in the world to the American consumer. Based on our research, Americans are trending towards lower ABV spirits mindfully crafted with premium ingredients to be low in calories and carbs, while the foodie zeitgeist expands their willingness to be adventurous with food and drink — West 32 checks every box.

 

The West 32 founders got to work testing countless bases from sweet potato to rice to corn. After over a year of trials, they achieved a refined recipe for an all-natural, gluten-free Soju, that’s the perfect spirit to enjoy neat, in cocktails, and always with your closest friends and family. West 32 Soju is our take on the traditional Korean spirit that is true to heritage, but with a modern American craft influence.

Since launching West 32 Soju, Dan and Max have been on a mission to bring soju into the mainstream. They will do this by creating an approachable brand and high-quality spirit, capitalizing on current beverage industry trends that lean toward low-abv, gluten-free, spirits, and educating and introducing a new audience to soju and the soju experience.

The Solution


An all-natural, American-made, craft Soju 

Our two varieties are our Original Soju and our Reserve, which is barrel- aged in American white oak whiskey barrels for up to a year. We crafted our soju with the modern American consumer in mind, one who seeks a spirit that uses well-sourced ingredients that are made with integrity in small batches. We aren't making just any other spirit — our craft Soju’s American roots attract mixologists and Westerners alike, enabling us to educate them about Soju and introduce it into sophisticated beverage programs. 

Our all-natural, gluten-free soju is made in small-batches in upstate New York near the Catskills. The design of our bottles embody the feeling of New York City's West 32nd street, from long dinners with family to late evenings out on the town. 

Produced outside of Albany, NY, West 32 Soju is sold at an accessible price point that’s high enough to convey its premium quality, while still making it affordable to our consumer audience. We make our Soju from Catskills water and North American-grown corn for a completely clean base that’s triple filtered, with an added touch of all-natural cane sugar for a smooth profile that’s true to the Soju experience.


Our Traction


Award-winning Soju, featured in the New York Times and loved by critics

In the NY International Spirits Competition, West 32 Original Soju placed as the 2017 Gold Winner & 2017/2019 Soju Producer of the Year, while Reserve Soju placed as the 2019 Silver Medal Winner & 2019 Soju Producer of the Year.  Our Soju has been Featured in the New York Times, Wine Spectator, Imbibe Drink of the Week, and Thirsty. 

Over the last three years, we have grown our market availability from 2 states in 2017 to 13 states in 2020 and our soju is available online throughout the U.S. In 2017, we obtained our US trademark, in 2018 we obtained our South Korean Trademark, and in 2019, we sold over 1,500 cases.

The Market


A promising future awaits the top selling spirit in the world

 Soju was the #1 selling distilled spirit in the world in 2017, with over 115 million cases sold alone. The US is now one of the fastest growing soju markets, with a growth rate of 15% year over year for the past three years. Low ABV spirits and cocktails continue to accelerate in popularity; for example, Aperol saw a 25% growth in 2018 sales due to the popularity of the ‘Aperol Spritz’. 


The IWSR2 reports that low alcohol drinks are expected to have an annual growth rate of 38% by 2022.  We see soju (aka Korean vodka) as the perfect low ABV spirit for the growing health conscious consumers, who care about what they put in their bodies and want to be able to drink casually over longer periods of quality time with friends without overdoing it.


Kerry Flavor reports which tracks sales, consumer trends & foodservice influence, noted that consumers will continue to desire more internationally-inspired flavors. Additionally, in the last decade there has been an explosion in popularity of Korean pop culture and cuisine, with Yelp reporting 34% category growth since 2012. 

What We Do


Two incredible varieties of Soju, carefully crafted, using premium quality ingredients

We created a line of sojus that are craft-distilled in the US, and designed for an easy, clean-drinking experience. Our Original Soju, with its 19% ABV, is made using all-natural cane sugar, rather than the artificial sweeteners used in most soju products, so our consumers don’t have to worry about the ‘soju hangover’. The West 32 Original has a  gluten-free designation, which makes it accessible to an even wider audience.

Our Reserve Soju, known for its subtle whiskey flavor, has a 32% ABV and is the only American-made barrel-aged soju, aged up to 1 year in a mix of American Oak rye and bourbon barrels.

Both of our products have a smooth finish, so they can be consumed  as a component in fine cocktails, as a base in low ABV cocktails, or neat by the bottle while participating in the ritual of traditional Korean drinking games. 

What is Soju?

Soju is a low proof “Korean vodka” that has a history and deep-rooted tradition spanning hundreds of years. Similar to vodka, soju is a neutral spirit, with an element of sweetness; however, soju is low ABV (only 14% to 24% ABV). It is most often consumed neat, but it serves as a great base or component in cocktails too. Most importantly, drinking Soju is a communal experience that brings people together through time-honored customs — you might ‘grab a drink’ with friends, but you share a bottle of soju. Soju is part of a social ritual. Believe it or not, Soju is one of the most popular spirits in the world, but there’s a good chance you haven’t heard of it since the vast majority of it is consumed in Korea.

The Business Model


B2B and B2C, with high profit margins

We sell our soju to distributors in 10 states, as well as directly to retailers in 3 states. Our product margins range from 50% to 65% depending on the SKU and sales outlet.

In New York, New Jersey, and California, West 32 Soju is able to sell directly to retailers and thus bypass distributors. This allows us to engage directly with bartenders and beverage directors and build relationships with accounts. Additionally, it allows us to keep cost down for the accounts and grow before committing to a distributor in one of the mentioned states.

How We Are Different


Small-Batch Soju that is accessible to the everyday consumer

West 32 Soju aims to shake up the routine American spirit industry with a fresh take on a traditional Korean spirit. With our carefully crafted branding and refined flavor profile, we are introducing one of the most popular spirits in the world to American consumers. Our soju is perfectly situated at the intersection of the foodie movement and low ABV trend, allowing us to capture the untapped non-Korean consumer market. 

We compete with local craft sojus and with the large Korean brands, many of which create an inexpensive product by using cheap ethanol and processed sweeteners. Some craft Soju brands have recreated ancient recipes to make a more traditional product, but sit at a steep price point and have an overpowering taste that can be polarizing. Our Soju, however, is a premium brand at a price point that allows consumers to trade up for every occasion, with both relatable and aspirational New York branding, and a clean, neutral flavor profile with just a hint of sweetness. 

The Vision


The go-to drink for every occasion, and a brand well-loved among spirit consumers

Our vision is to make Soju a mainstay spirit in the repertoire of the foodie cult, i.e. the people who live to eat out, try new things, drink complex cocktails, and never miss a Sunday brunch. We are on a mission to make soju mainstream, and we believe our award-winning soju is well-positioned to become  the next staple in liquor cabinets everywhere.


We plan to reach 10,000 cases per year and profitability by 2025. We will do this by hiring more market managers, increasing our tasting capabilities in liquor stores, and start to increase PR.

Our Team


A well-seasoned team, along with partners who are experts at the top of the spirit industry

Our team has years of experience in successfully growing start up businesses, while our partners have experience in building spirit brands. Our partners, Coquetel Spirits and Mr. Gold, have worked with big brands like Bacardi and Patron, and have helped grow emerging brands like Gem & Bolt into the larger brands they are today. Through their relationships and guidance, we are able to access accounts and distributors to build brand awareness.

Why Invest


West 32 is on its way to make a mark on the spirit industry

We believe West 32 is a premium quality soju brand with few comparable competitors on the market. Our soju is perfectly situated at the intersection of the foodie movement and low ABV trend, anchored to Korean culture, with strong branding that appeals to American consumers. We have the opportunity to expand this fast-growing category of low ABV spirits and internationally inspired flavors to the United States, and we are so excited to offer you equity in our company as we make our mark on the spirit industry.


In the Press

The New York Times
January 1, 2017

Soju, Straight From New York

Thirsty
January 1, 2017

OTSUKA SOUR COCKTAIL AT SCOFFLAW CHICAGO

Wine Spectator
January 1, 2017

What's the Deal with Soju?

Cool Hunting
January 1, 1970

NYC-MADE WEST 32 SOJU

Offering Summary


Company

:

Archibald & Wens Inc.

Corporate Address

:

130 S. Indian River Driver, Ste #202-237, New York, NY 10011

Offering Minimum

:

$9,990.96

Offering Maximum

:

$249,989.97

Minimum Investment Amount

(per investor)

:

$234.75











Terms


Offering Type

:

Equity

Security Name

:

Non-Voting Common Stock

Minimum Number of Shares Offered

:

1,064

Maximum Number of Shares Offered

:

26,623

Price per Share

:

$9.39

Pre-Money Valuation

:

$4,401,243.24











*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

COVID Relief

This offering is being conducted on an expedited basis due to circumstances relating to COVID-19 and pursuant to the SEC’s temporary COVID-19 regulatory relief set out in Regulation Crowdfunding §227.201(z).

Offering maximum.

In reliance on this relief, financial information certified by the principal executive officer of the issuer has been provided instead of financial statements reviewed by a public accountant that is independent of the issuer, in setting the offering maximum of $250,000.

Expedited closing sooner than 21 days.

Further, in reliance on Regulation Crowdfunding §227.303(g)(2) A funding portal that is an intermediary in a transaction involving the offer or sale of securities initiated between May 4, 2020, and August 31, 2020, in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)) by an issuer that is conducting an offering on an expedited basis due to circumstances relating to COVID-19 shall not be required to comply with the requirement in paragraph (e)(3)(i) of this section that a funding portal not direct a transmission of funds earlier than 21 days after the date on which the intermediary makes publicly available on its platform the information required to be provided by the issuer under §§227.201 and 227.203(a).

Investment Incentives and Bonuses*

Early Bird

First 72 hours - Friends and Family | 15% bonus shares

Next 72 hours - Super Early Bird | 10% bonus

Next 7 days - Early Bird Bonus | 5% bonus shares

Volume

All Investors 20% discount through 1-877-SPIRITS (www.1-877-spirits.com) 

$250 Investment:

West 32 Soju Sticker

$500 Investment:

West 32 Swag Bag (Branded sticker, T-Shirt, tote bag)

$1,000 Investment + 5% bonus:

West 32 Soju Bar Kit (4 shot glasses, a carafe, and a cocktail shaker)

Swag Bag 

$5,000 Investment + 10% bonus:

West 32 Soju Bar Kit

West 32 Swag Bag

A one (1) hour cocktail making class with Coquetel Spirits (up to 6 friends via Zoom or other preferred video conference site)(supplies not included)

$10,000 Investment + 15% bonus

West 32 Swag Bag

West 32 Soju Bar Kit

Free Distillery Tour and Tasting at Yankee Distillers for you and up to 3 friends. It includes a 1-night stay at a hotel (2-rooms included) and free samples (excludes airfare and ground transportation). 

The 10% Bonus for StartEngine Shareholders

Archibald & Wens Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Class B Non-Voting Common Stock at $9.39 / share, you will receive 110 shares of Class B Non-Voting Common Stock, meaning you'll own 110 shares for $939. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

*All perks occur when the offering is completed.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments. Any expense labeled “Administrative Expenses” not strictly for administrative purposes. Any expense labeled “Travel and Entertainment”.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$80,849.00 USD
$50,521.00 USD
Cash And Cash Equivalents
$17,164.00 USD
$3,058.00 USD
Accounts Receivable
$27,711.00 USD
$28,239.00 USD
Short Term Debt
$7,155.00 USD
$8,364.00 USD
Long Term Debt
$14,590.00 USD
$8,245.00 USD
Revenues And Sales
$117,189.00 USD
$91,368.00 USD
Costs Of Goods Sold
$73,780.00 USD
$52,674.00 USD
Taxes Paid
$27.00 USD
$129.00 USD
Net Income
-$78,807.00 USD
-$72,015.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

Notice of Funds Disbursement

1 day ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, West 32 Soju has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in West 32 Soju be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Swag is Here!

8 days ago

To Our Investors,


We have ordered swag and it is starting to arrive. Please make sure your address with StartEngine is up to date. We expect to start mailing out your eligible investor swag within the next month.


Thanks!

Max and Dan

Celebrating 99 investors ... Will you be #100? Join us today!

about 1 month ago


Expansion Continues!

about 1 month ago

Dan and I are excited to announce we have partnered with Highland Distributors to serve Massachusetts, New Hampshire, Maine, and soon, Rhode Island. We have now expanded into five (5) new states since the onset of COVID. We hope everyone is safe and well.


Max and Dan

Notice of Material Change in Offering

about 2 months ago

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the West 32 Soju offering. Here's an excerpt describing the specifics of the change:


Extended length of campaign.


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

West 32 Soju Expands Partnership with Total Wine

about 2 months ago

Hi Everyone,

We're excited to announce Total Wine has approved West 32 Original for Massachusetts, Southern California, Tennessee, and Washington State. 


Cheers,

Max and Dan

Notice of Funds Disbursement

2 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, West 32 Soju has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in West 32 Soju be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Status of West 32 Soju During COVID

3 months ago

Hi Everyone,

We want to provide a brief update on the state of West 32 Soju during these unprecedented times.  We are proud to say West 32 Soju has managed to get through March/April/May, and since June 1, we have returned to pre-COVID levels. For June and July, we saw an 11% increase in cases sold year-over-year (YoY) from June and July 2019. Moreover, revenue was on par with 2019. Right now, we're focused on growing our distribution in the US, with adding a distributor in the mid-Atlantic region and securing distributor in NY & CA as top priorities. We appreciate your support and look forward to sharing future updates. 


Thanks!

Max and Dan

West 32 Soju Secures Distributor for Pacific Northwest

4 months ago

We're thrilled to announce West 32 Soju has secured a distributor for the Pacific Northwest (Washington, Oregon, and Idaho). Our initial focus will be on the Washington State market. If you know any restaurants/bars or liquor stores looking for a soju, please share! 

West 32 Soju Now Available in Northern NJ

4 months ago

West 32 Soju is now available at Sprove Market Place in Jersey City and Best Liquor and LiquorWorld in Fort Lee. You can also find us at any Total Wine in New Jersey. 

Notice of Funds Disbursement

4 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, West 32 Soju has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in West 32 Soju be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Hello Southern Cali!

4 months ago

Yesterday we secured our first order with a retail account in Southern California. 

West 32 Original and Reserve are now available at Nelson's Liquor Land in Inglewood. 

More exciting updates to come! 

Cheers,

Max & Dan

West 32 Reserve Now Available in Total Wine in Texas!

4 months ago

Hi All, 


We're excited to announce you can now find West 32 Reserve in Total Wine locations throughout Texas! 


Dan and I will continue to share updates on our growth. 


Cheers,

Max and Dan

Wow already at $28k+ and last day for friends and family bonus!

5 months ago

Wow! wow! wow! $28k+ in our first 2 days on StartEngine! We have less than 24 hours until the 15% friends and family bonus ends.  Thank you to our supporters for investing in West 32 Soju. For those who are considering investing, we greatly appreciate your consideration and hope you join us on our mission to make soju a part of everyday spirits vocabulary. 

Show More Updates End of Updates

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