NETJETS US VOLUME 10 2019

© THE LAST DROP DISTILLERS
a remarkably low number of bottles, ranging
from as few as 32 to as many as 1,347.
It is a daring concept for the notoriously
fickle drinks industry—and one that proved
its success in 2016 when the firm was
acquired by Sazerac, the large American
spirits conglomerate. Jago and Geraedts-
Espey continue to retain full creative control,
but they appreciate the opportunity to lay
down stock for future bottlings, a luxury
their fathers did not have in the early years,
as Jago explains: “James [Espey] effectively
bankrolled the first release, and there was no
question of doing a second release until they
had enough cash.”
James Espey, who remains active in the
firm, and Tom Jago, who passed away last
year, encouraged their daughters to join
the company in 2014, turning what had
been extraordinary individual careers into a
family dynasty. James and Tom spent decades
working across the spirits industry, and their
successes are legendary: Malibu rum, Bailey’s
Irish Cream, Johnnie Walker Blue Label,
Chivas Regal 18. But those projects were all
for other companies—and they were often
as much about marketing as they were the
liquid in the bottle.
The Last Drop, their first solo project,
turned that formula on its head: The liquid
was the only thing that mattered. In the
mid-2000s, they started canvassing their
acquaintances for old casks that were
languishing in obscurity, either because the
owner didn’t want or couldn’t afford to market
it in such a small quantity. It took years to
find the right whisky—and that became their
first release, The Last Drop 1960 Blended
Scotch Whisky.
The 15 releases since then have primarily
been whiskies, but they have also included
three cognacs, a bourbon, and a duo of ports
(from 1870 and 1970). It’s a range that
appeals to connoisseurs of all types, and not
just the amateur variety—there are glowing
tasting notes from world-renowned experts
( Jancis Robinson loved the port; Charles
Maclean effused about a 1968 single malt), as
well as awards aplenty, including for the most
recent release, a 56-year-old with 732 bottles,
which earned the title of Best Blended Scotch
Whisky (26-50 years) in the industry-leading
tome “Jim Murray’s Whisky Bible 2020”.
The bottlings are available, at the moment,
only from select retailers around the globe
(consult the firm’s website for a list), but a
number of clients have gone on the brand’s
full “journey of discovery,” as Geraedts-Espey
calls it, purchasing every single release. “One
of our customers,” Geraedts-Espey says with
a smile, “has planned out which events he’s
going to open a bottle for: his daughter’s 21st
birthday, a milestone anniversary, and so on.
It’s such a joy for us to have built such strong
relationships.”
These are relationships, she explains, that
are built on trust. Clients trust that the brand
will stay true to its principles; namely, that
they will always put the quality of the spirit
first. “Our criteria are that it is old and rare
and fresh and delicious,” says Jago. “Every
spirit must meet all of those four.”
The vetting process is complex and includes
industry experts, as well as a final tasting with
the full Last Drop team, where they confirm
the spirit’s quality—or disconfirm it. They
reject around 95% of the spirits they seriously
consider, and sometimes there is heartbreak
in the room, says Jago. “The last work trip my
father and I took together was to Cognac,”
she says. “We were introduced to a man who
had a family collection to sell. As we tasted
barrels from 1906 and 1917, I was completely
certain we had found our next release. But
we had to bring a sample back to London to
taste; we never bottle anything because of a
name or an age.”
Geraedts-Espey interjects: “Bearing in
mind, this was 2016 and the next release
was going to be 2017, so it would have been
amazing: 100 years on, a family story.”
“But we tasted it, and it wasn’t very nice,”
Jago continues. “The disappointment was
palpable.”
“Even now,” confirms Geraedts-Espey
with a sigh.
It’s precisely this intense, personal
dedication that connoisseurs have come
to treasure, but it’s not the only thing.
The prices are, given the age of the spirits,
exceptionally reasonable. “Value for money
is really important for us,” says Geraedts-
Espey, “which is why our price point is
nowhere near the £20,000 or £30,000 mark
of some other brands.”
The women are aware of the particularly
buoyant market for old whiskies, but, as
Jago puts it, they both insist that “spirits are
designed to be drunk, not locked up and
resold for twice what you paid for it.”
“Our bottlings are like any collectible,”
Geraedts-Espey continues. “Buy them
because you love them. If you need to sell
them, or want to, fine—chances are you’ll
make a little money. But The Last Drop is
not an investment vehicle.”
Their boldness in this respect is admirable
for its integrity and it rings true to the
firm’s—and their fathers’—principles. “The
hero is inside the bottle,” James Espey has
said repeatedly. And for The Last Drop, it
always will be. lastdropdistillers.com
NetJets 73