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Bacardi is releasing a new rum called Añejo Cuatro that it hopes will appeal to those with more refined palettes.

The launch is part of Bacardi’s plan to provide drinkers with an upscale rum that’s pricier than the brand’s standard offerings. It comes as Bacardi makes moves into the premium space, which the brand says currently makes up only 15% of the total rum sector.

According to Bacardi, Añejo Cuatro is aged for a minimum of four years and has flavors of milk vanilla, toasted oak, clove and honey. Sarah Doyle, vice president of marketing at Bacardi Europe, said she considers the product to be an “accessible premium” one that will target consumers between the ages of 28 and 34. The rum will be sold globally at a recommended retail price of £25 (around $35).

“We’re seeing a trend of people drinking less but better,” said Doyle. “Overall, people really want premium spirits, and they won’t give up quality or taste over price when it comes to their purchases.”

The rum brand is working with BBDO on a campaign for Añejo Cuatro that will launch soon. According to Doyle, Bacardi will also be working closely with its on-trade partners to promote the product.

“With Bacardi, we like to say that we build our brand in the bar, not in the boardroom," she said. "So what will be a big focus for us is working with our partners in bars and restaurants because really it’s the bartenders who are our biggest advocates and influencers when it comes to launching a new product.”

In addition to Añejo Cuatro, Bacardi is rolling out another premium rum called Gran Reserva Diez. Doyle said the launches mark Bacardi’s most significant portfolio expansion since it launched its line of flavored rums.

Bacardi is hoping this new line of premium rums will elevate its image and positioning in the market. 

“Different spirits have had their time to premiumize. I think rum hasn’t really done this yet because it’s been so misunderstood,” said Doyle. “Rum has been plagued by pirates and punch, when in fact it’s one of the most diverse flavor profiles of all spirits.”

Bacardi has a 17.2% global market share by value, according to 2016 data from market research provider Euromonitor International.