Italian Wine Specialist Ethica On A Rapid Growth TrackApril 29, 2022
Miami-based importer Ethica Wines has built an extensive portfolio in recent years, including producers like Borgogno, Cordero di Montezemolo, Villa Sparina, Anselmi, Fattoria Le Pupille, Ca’ dei Frati, and Movia. Company volume was approximately 800,000 cases in 2021, with about three-quarters of that representing branded wines and the remainder in private label. The U.S. market accounts for about 80% of Ethica’s business.
Ethica is projecting ongoing revenue gains this year, targeting sales of $90 million on strong double-digit growth. Among its key brands in the U.S. are La Gioiosa Prosecco ($15) and Villa Sparina Gavi di Gavi DOCG ($18), at approximately 70,000 cases and 40,000 cases respectively. Other priority brands in the Ethica range include Ca’ dei Frati I Frati Lugana DOC ($20), Borgogno Barolo DOCG ($90), Ridolfi Brunello di Montalcino DOCG ($50), and Cafaggio Chianti Classico Riserva DOCG ($35). Several of those wines are newer entries to the portfolio, which has been expanding with a focus on Piedmont, Tuscany, and the Veneto.
“We’re obviously attentively observing the global situation with a special eye on shipping and logistics and their possible impact on our pricing strategies,” CEO Francesco Ganz told SND. “As far as Ethica Wines’ business is concerned, we’re on track with our 2022 plan and will keep hiring the necessary manpower to support our growth and ensure the achievement of our goals.”—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.