Indo-Italian joint venture between Indage Vintners and Cavit
Indage Vintners Ltd has recently entered into an MOU to form a Joint Venture with Cavit, an Italian wine company based in Trentino, Italy, reports Brinda Gill. The aim of the joint venture is to further leverage the production and distribution infrastructure of both companies to maximize potential sales and reduce cost of market entry in various defined markets.
Cavit, based in Trentino, northeast of Italy, is engaged in the production, sales and distribution of high quality still and sparkling wines. The company represents over 5,400 associate vine growers at 13 wine co-operatives and 70% of the wine production in Trentino. The varietals grown in the region are Gewürztraminer, Sauvignon Blanc, Chardonnay, Pinot Grigio, Nosiola, Teroldego, Marzemino, Cabernet Sauvignon and Merlot. The company produces around 35,000,000 bottles (including DOC wines and DOC Spumanti) with annual sales of more than €180 million. .
"We are very pleased to announce this strategic partnership with Cavit as we hope it will prove to be a mutually beneficial relationship for Indage and Cavit and ensure a much wider reach of each other's wine brands in different markets," said Ranjit Chougule, Managing Director, Indage Vintners Ltd.
The joint venture also includes plans to expand businesses of both Indage Vintners and Cavit into viticulture areas for winemaking in India in order to assist the expansion of new Italian varietals in India for Indage's backward integrated activities.
"Both parties have existing distribution in the defined markets of India, UK, US and Europe. By further leveraging this existing distribution with additional brands, we reduce costs for both parties," added Chougule.
