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Issue 387 - September 24th - 28st - Expressly created for 11.897 wine lovers,
professionals and opinion leaders from all over the world |
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Once again, wine and finance meet. Tasca d’Almerita, the historic Sicilian winery (active since 1830) and one of the star players of the “wine Renaissance” on the island, has issued a minibond (the channel the most prestigious Italian wine companies are using more and more to access capital), through the bank Iccrea BancaImpresa, worth 3 million euros. “These resources will allow us to support international expansion and further enhance our Etna project, Tascante, including DOC denomination Etna wines, which is today considered one of the areas of greatest interest for the international market”, explained Alberto Tasca, CEO of the company. |
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The wine industry in the United Kingdom has a turnover of 20 billion pounds (data from The Wine & Spirit Trade Association). Much of this business is driven by Italian wine, which is the second largest supplier in terms of value and the first in quantity, in the United Kingdom. It is a strategic market for Italy as well as for others, on which, however, of course all the unknowns of a still quite confusing Brexit are beginning to weigh. According to data analyzed by WineNews from ICE in London, in the first 7 months of 2018, Italy exported 145 million kilos of wine to the UK, marking it the absolute first in quantity, but there is also a 15.2 % decrease in volume compared to the same period in 2017. Australia, instead, which is second in volume, grew 8.3% (126 million kilos), while France followed the same dynamics as Italy, and registered a decrease of 12.3%, to 82 million pounds. In value, however, the French dominate, at 480 million pounds (+4.4%), followed by Italy at 330 million pounds (1.71% less), while Australia, at quota 138 million pounds, has grown 12%. The scenario, therefore, despite the positions of European leadership, sees the main supplier of the New World growing more, a trend that could consolidate “if, which none of us hopes will happen, it will then be “Hard Brexit”; that is, no special agreements between the EU and the United Kingdom, which would complicate matters considerably and would benefit the New World and the Commonwealth countries”, pointed out the director of the ICE in London, Roberto Luongo, to WineNews. In any case, Luongo reiterated, Italian wine is still a superpower in the UK, even though there are differences between the types. Italy dominates in volume and overall values in the sparkling wine sector (Prosecco in the lead, ed.), at 143 million pounds exported in the first 7 months of 2018, up on the 134 registered in the same period of 2017 (and a market share of 46%, just ahead of France, at 140 million pounds). This is a substantial increase in value, therefore, countered by a not very small decline in quantity. Still wines are having a much more difficult time, as they yielded 186 million pounds for Italian wineries (compared to 201 in the first 7 months of 2017). |
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It is written “Shiandi”, but it is really Chianti, the biggest Italian red wine name. The Consortium has registered the DOCG trademark in Chinese characters, which will be used for wines exported to the East, on a market that is becoming more and more important for the Tuscan territory, and where the first “Chianti Academy” has just begun. The translation of the brand name has a very positive meaning, explained the Consortium. The first character used indicates an activity in favor of third parties, while the second character indicates peace and the third character used, instead, indicates the roots of a flower. “It is an historic step for the brand”, commented the president of the Chianti Wine Consortium, Giovanni Busi, “which establishes our roots in China, a country counting 1.3 billion people, and a market that has enormous potential”. |
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Terra Moretti has concluded its Bellavista project, the name of one of the Franciacorta reference wineries as well as of Italian sparkling wine production, but it is also the hill that houses the winery and the Relais & Chateaux, L’Albereta. The group led by the entrepreneur Vittorio Moretti is now the sole owner of the hill, as he told WineNews, “we have closed the circle by purchasing the remaining 6 hectares, and now we are the sole owners of the 22 hectares of the hill, which is entirely enclosed”. It is a magical place, which hosts 6-7 hectares of vineyards in Franciacorta (from which an ad hoc wine, a sort of corporate “cru”, could also be created, ed.) on the over 190 owned by Bellavista, the top winery of the Terra Moretti Wine Group (led by Francesca Moretti), in addition to the Relais and Chateaux, L’Albereta. A point of reference for Italian luxury hospitality, the top of the group’s hotel business (sector coordinated by Carmen Moretti and Martino De Rosa), which just yesterday celebrated its first 25 years of existence and success, at a big party held in the vineyards, including many “friends”, and where there was a tribute to the great Gualtiero Marchesi, signature of the Albereta restaurant for many years. “Gualtiero”, said Moretti, “was paramount to making Franciacorta the great Italian wine territory it is”. |
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Oddero, the historic winery of the Langhe and Barolo, has purchased almost one hectare of Monvigliero Cru, one of the most important in the territories, in the Municipality of Verduno. The total amount of the deal is unknown, but it is known that quotations of the top Barolo crus are now higher than one million euros. The winery has added a new prestigious cru to those it already owns, from Bussia to Brunate, just to name a few. They own more than 36 hectares of vineyards, of which over 17 of Nebbiolo for Barolo and Barbaresco. |
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Following a full decade of uninterrupted growth, for the first time, Prosecco shipments to UK are down. Volume has registered 2.3% less in the first six months of 2018, but values are continuing to grow at +4.9%. The data, provided to WineNews by the director of the Prosecco Consortium, Luca Giavi, is not excessively alarming, especially following the difficult 2017 vintage quantity wise, “but we cannot hide the fact that there is certainly a slowdown: at the beginning of July 2018 sales in mass market retailers of Prosecco compared to the previous 12 months have grown only 1.7% in volume compared to +19% the previous year”. In short, there are some signs of concern, but no panic, because “Prosecco is continuing to grow in the US and within a few months it could become our number one market”. |
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The channel of duty-free stores at airports around the world is becoming more and more important for wine producers, and especially for sparkling wines. In 2017, duty free sold a volume of 19.2 million bottles, according to International Wine & Spirits Research. The best-selling brand is of course a giant of Champagne, the legendary Moët & Chandon, while in position number two there is Bottega Prosecco Gold, one of the most famous Italian wine brands in the world. |
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