Ranjit Chougule, MD of Indage says,' this JV will help ensure a wider reach of each other’s wine
brands into different markets. It will essentially further leverage the production & distribution
infrastructure of both companies to maximize potential sales and reduce cost of market entry in
various defined markets.'
The JV has aggressive plans to expand their businesses 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.
Cavit is a strong and powerful co-operative based in Trentino, a part of Trento-Alto Adige region in the north-east of Italy. It makes a huge reange of value-for-money and excellent quality wines with annual sales of more than €180 million. The business philosophy of the two companies is quite compatible and the MOU should result in mutual benefits, especially to bring in some interesting Italian wines like Pinot Grigio, sparkling wines, Lagrein based red wines etc.
Cavit was founded in 1950, to meet the needs of vine growers in the region to provide the maximum
quality and market their own wines in a modern way. It represents over 5,400
associate vine growers at 13 wine co-operatives and controls 70% of the wine production in Trentino. It produces DOC wines and DOC spumanti. It also makes soem excellent dessert wines.
During a visit to teh winery three years ago, the export manager had expressed to delWine a keen interest in entering the market. Their perseverance and patience seems to have paid off. One hopes an aggressive policy from this JV. |