abstract of the academic research “Resilience and preparation for the next global wine consumption cycle. Masi: An original case study” presented today in Milan, with the participation of the authors of the study, Prof. Jean-Marie Cardebat (Prof. of the University of Bordeaux) and Prof. Davide Gaeta (University of Verona), and Federico Girotto, CEO of Masi Agricola, a case history identified in the research.
“RESILIENCE AND PREPARATION FOR THE NEXT GLOBAL WINE CONSUMPTION CYCLE. MASI – A CASE STUDY”.
The presentation of the academic research “Resilience and preparation for the next global wine consumption cycle. Masi: An original case study ”, edited by Jean-Marie Cardebat , Professor of Economics at the University of Bordeaux, Director of the ECOr Research Department, Affiliated Professor at the INSEEC Grande École and Director of the Wines & Spirits Chair in Paris, and Davide Gaeta , Professor and lecturer in economics of the wine business and agri-food markets and competitiveness – Department of Management – University of Verona, was held today in Milan.
Two universities in comparison with the business world presented the results of the study born from an international vision of wine and completed with the Masi case history through the intervention of Federico Girotto , CEO of Masi Agricola SpA and President and CEO of Canevel Spumanti SpA.
Preceded by a careful analysis of the national and international context of the wine markets and of the possible evolutions of demand trends , the academic study examined the strategic tools necessary to adapt to the next economic cycles of the wine sector, finding, as far as Italy is concerned, in Masi Agricola an interesting example of resilience and ability to compete within situations that can prove critical in the absence of organization, structure and diversification.
The research carried out by the two Universities analyzed, in the first part , the possible causes of the decline in demand and the threat factors that the markets of the different types of wine can experience in this economic cycle; in a second part , the key factors of resilience in the adaptation models of the wine market are reported. Finally, in the third part of the study, the case of a market leading brand was analyzed: Masi. A brand that was identified for: the ease of access to information – Masi is the only Italian wine company listed on the stock exchange -; for its structured organization; and for the presence of factors that allowed the company to strengthen itself in a challenging market context through the model of economic resilience and Porter’s competitive advantages.
STATEMENTS ON THE SIDELINES OF THE PRESENTATION:
Jean-Marie Cardebat, Professor of Economics at the University of Bordeaux, Director of the ECOr Research Department, Affiliated Professor at the INSEEC Grande École and Director of the Wines & Spirits Chair in Paris stated : “The cyclical nature of the economy has always influenced global wine consumption and the current picture is no exception. While the current economic and geopolitical context has led to a contraction, the very nature of economic cycles suggests that, by keeping inflation under control, 2026 could mark the turning point with the start of a recovery phase in 2027 for new sustained growth in the wine sector . This recovery will not be a simple repetition of the past: the sociology of consumption has changed, and the next cycle will see new trends and consumers. Premiumisation remains a key trend, with a growing shift in demand towards the search for quality and high-value segments. In this scenario, it is essential to invest in advance in what could form the basis of the new growth cycle, strengthening brands and enhancing consumer experiences such as wine tourism, a sector that has seen significant growth in the last fifteen years, with estimates of over 50 billion dollars for 2025. Emerging markets could also redefine global balances, with increasing interest in red wines. It is important for the wine sector to be able to identify signals and anticipate trends in order to adopt far-sighted strategies”.
Davide Gaeta, Professor and Lecturer in Economics of the Wine Business and Agri-food Markets and Competitiveness – Department of Management, University of Verona continued: “ The evolution of economic cycles has determined the need to remodel the organization of corporate business. Our research has identified some key resilience factors that can allow wine companies to consolidate their growth and support the evolution of international markets such as: a structured organizational model and solid governance, which allows growth and continued innovation; transparent management of information; and targeted strategies for the acquisition and diversification of the product portfolio. Another crucial element is the ability to adapt to changes in demand through a flexible approach, both in the supply of grapes and in the breadth of the product range. The segmentation of distribution, a thoughtful and diversified presence on international markets also allow risks to be mitigated and development opportunities to be seized. There are also other elements that contribute to strengthening the competitiveness of companies, such as attention to corporate identity, strategic marketing and innovation oriented towards sustainability. We therefore researched all these factors by analyzing a case of a market leading brand such as Masi, and noted how the company has been able to move in a challenging context. The company has been able to combine tradition and innovation, enhance its territorial roots, adopt an advanced monitoring system to guarantee efficient management of production and distribution, and implement a far-sighted growth strategy. It therefore emerged that Masi represents a model of resilience capable of transforming challenges into sustainable growth opportunities”.
Federico Girotto, CEO of Masi Agricola and President and CEO of Canevel Spumanti, stated: “We greatly appreciated the research and are proud to have been part of it: on the one hand, it can represent a contribution to operators in the wine sector to understand and gain awareness of the real problems of the sector and its reference markets, closing the space for omissions, pessimism and above all the illusion that everything can go back to how it was before. On the other hand, the study clearly outlines the characteristics needed to effectively address the inevitable evolutionary path of the company ecosystem, the necessity of which runs in parallel with changes in the sector. At Masi we try to increase resilience in various ways, but above all by strengthening the strategic processes of identification, analysis and mitigation of risks, never diverting attention from our North Star: the brand. Over the years, the Masi group has activated various strategic levers that have allowed us to respond in advance to the evolution of economic cycles, transforming challenges into opportunities. In an overall view, in these ten years since listing, we have worked on sustainability – with the Masi Green Governance project – on omnichannel communication and distribution, and on strengthening the Masi Wine Experience, which this year will launch Monteleone21, our visitor center in Valpolicella that responds to the new demand of the wine tourism sector. Finally, we have invested in product innovation, such as with Fresco di Masi, the line of organic wines that expresses our vision of authenticity, relevance and attention to the consumer, and in expanding the portfolio. An example of this is the recent landing in Oltrepò Pavese with the acquisition of the Casa Re estate and the launch of the Moxxé del Re Metodo Classico sparkling wine, where we hope to replicate what was achieved in Valdobbiadene with Canevel Spumanti, a brand that has continued to grow, also in terms of exports.