Latest news with #Veronafiere
Malaysian Reserve
05-05-2025
- Business
- Malaysian Reserve
Veronafiere and the Italian Trade Agency Convene U.S. Wine Industry Leaders to Tackle Tariffs and Market Challenges in Washington, D.C. Roundtable
WASHINGTON, May 5, 2025 /PRNewswire/ — Veronafiere, organizer of Vinitaly, and the Italian Trade Agency (ITA) hosted a high-level roundtable entitled, 'Inside Italian Wine's Next Move in America' at Cafe Milano in Washington, D.C. on Thursday of last week. In anticipation of (taking place in Chicago on October 5–6), the event gathered leading figures from the U.S. wine trade, Italian institutions, policymakers, and the media to discuss strategies for navigating the evolving American wine market. At a time of renewed tariff uncertainty and shifting consumer trends, the roundtable created space for candid dialogue on how to protect and grow Italian wine's presence in the U.S.—Italy's most valuable export market, accounting for 24% of total Italian wine exports. Italian wine remains the #1 imported wine category in the U.S., holding a 33% market share. Key Speakers and Guests Notable attendees included Federico Bricolo, President of Veronafiere; Matteo Zoppas, President of the Italian Trade Agency (ITA); Adolfo Rebughini, General Manager of Veronafiere; Robert Tobiassen, President of the National Association of Beverage Importers (NABI); Robert Allegrini, President of the National Italian American Foundation (NIAF); and representatives from Akin Gump, lobbying on behalf of the U.S. Wine Trade Alliance. Also present were key industry leaders such as Tara Empson, CEO of Empson USA and recipient of the 2025 Vinitaly International Award; Dina Opici, Chairwoman of the Wine & Spirits Wholesalers of America (WSWA) and President of Opici Family Distributing; Francis Creighton, CEO and President of WSWA; Federico Veronesi, CEO of Oniwines Group; Charles Lazzara, CEO of Volio Imports; and Amanda Page, Director of Tolaini Distribution. Guest of honor was Mariangela Zappia, Italy's Ambassador to the United States. Discussion Highlights Federico Bricolo addressed the urgency of the moment: 'Even modest tariffs can have a significant ripple effect in a highly competitive market like the United States. In today's climate of geopolitical tension, direct engagement is more critical than ever. Strengthening ties with U.S. trade partners now can help mitigate future risks. A well-established relationship between producer and importer is more likely to withstand cost pressures or policy shifts, enabling both sides to adapt rather than retreat.''Events like are essential platforms to reinforce relationships, build visibility, and strengthen resilience across the trade.' Matteo Zoppas echoed the concern over tariffs: 'Until there is greater clarity on implementation, it's difficult to fully gauge the impact on exports. What we do know is that tariffs are damaging in any scenario—just their announcement can destabilize the market.'He continued:'According to the U.S. Wine Trade Alliance, for every dollar earned by an Italian wine producer, U.S. businesses earn $4.52. This is a result of the three-tier distribution system, where American importers, distributors, retailers, and restaurants apply margins at every stage.' Adolfo Rebughini emphasized the consumer impact: 'Tariffs will inevitably raise prices. A mid-range bottle of Prosecco that once retailed at $10.99 may soon cost $12.99. That's why initiatives like are so important. These events not only promote Italian wine but also help strengthen the producer–importer relationship, giving both sides the tools to navigate challenges and ensure long-term success in the U.S. market.' The discussion underscored the need for ongoing collaboration, renewed investment by Italian producers in the U.S., and market diversification into regions like Canada, Mexico, Brazil, and Asia. Next Steps: White Paper to Follow To ensure the insights and recommendations shared during the roundtable have lasting impact, a white paper will be drafted based on the discussion and made available to the broader wine industry in the coming weeks. The document will be published on the official Vinitaly and websites and shared with stakeholders across the international wine trade. About returning for its second edition in October 2025, is the largest and most comprehensive Italian wine trade show outside of Italy—and the only event officially licensed to carry the Vinitaly name beyond in 2024, the inaugural edition featured 230 producers and more than 1,650 wines, attracting over 1,500 qualified trade and media professionals. The 2025 edition is expected to surpass 300 producers and expand its reach, further solidifying its position as a premier destination for the North American wine trade. Media Contact Morgana Germanetto, Colangelo & Partners, +1 646 624-2885, mgermanetto@
Forbes
02-05-2025
- Business
- Forbes
How Tariffs May Impact Italy's $2 Billion In U.S. Wine Exports
The U.S. is the #1 Export Country for Italian Wine Americans are in love with Italian wine, making Italy the top country for U.S. imported wine volume over the past decade, according to NielsenIQ. Now with a potential 20% tariff looming on the horizon, Italian wine producers are naturally nervous about the impact on their businesses. 'Italy exports around $2 billion worth of wine each year to the U.S., which makes up around one-third of our total wine export volume,' stated Adolfo Rebughini, General Manager of Veronafiere, in an online interview this week, along with tw0 other Italian wine executives. 'We are concerned that the tariffs could raise wine prices for the U.S. consumer, especially due to the complexity of the 3-tier wine sales system,' he continued. 'But the U.S. market is critical to Italian wine. It's a market we can't replace easily in the short-term.' And it turns out that Italian wine sales can be quite lucrative for American wine buyers, because Rebughini shared that every euro spent on producing a bottle of wine in Italy generates a margin of € 4.5 euros for importers, distributors, and retailers in the U.S. During the course of our conversation, the three Italian wine executives described some of the programs and methods they are using to maintain positive relationships with U.S. wine buyers, trade professionals, and consumers. They are hopeful that by these strategies will help to lessen the impact of the potential tariffs. 'We are concerned that the tariffs could raise wine prices for the U.S. consumer. But the U.S. market is critical to Italian wine. It's a market we can't replace easily in the short-term.' Given that wine is so important to Italy they were one of the first countries to establish a large annual trade show, now called VinItaly, where wine buyers from around the world are invited to taste and learn more about Italian wines as well as to negotiate sales deals. 'The first wine trade fair actually started in the city of Verona in 1896, and our organization – Veronafiere, which manages VinItaly, started in 1898,' stated Federico Bricolo, President of Veronafiere. 'The mission of VinItaly is to promote and foster the global wine business for Italian wines.' Under Veronafiere's leadership, VinItaly has grown to be one of the largest wine trade fairs in the world. Bricolo reported that for the most recent VinItaly, which was held this year from April 6- 9, 2025 – right after Donald Trump's tariff announcement on April 2 – that 97,000 people from 130 countries attended. 'Because the tariffs were announced a few days before the trade show, we had an increase of 5%, or 3200 American buyers,' reported Rebughini. 'There was concern because the tariffs for Italy were 20% (now on pause for 90 days), but there was a lot of vibrant energy and good conversations. At the end of the day, wine has survived many centuries and we will figure it out.' The main VinItaly trade show has been so successful that last year Veronafiere decided to launch VinItaly-USA. The trade show was held in Chicago in October of 2024 and attracted 1500 American wine buyers. 'At both VinItaly trade shows we provide matchmaking tools so Italian wineries and wine buyers can discuss, negotiate and develop solutions. We also provide content, education, and Italian wine master classes,' Rebughini said. Veronafiere works very closely with the Italian Trade Agency ( led by Matteo Zoppas, in order to launch VinItaly. 'We couldn't be successful at VinItaly without the support of ICE, because they are the ones who help us identify and invite buyers to the trade show,' added Rebughini. The VinItaly Trade Show in Verona Attracted Over 97,000 Attendees in April 2025 Wine is very important to Italy, comprising 1.1% of the GDP for the country. Because of this, it may not be surprising that Italy's Prime Minister, Giorgia Meloni, was one of the first government officials to reach out to the Trump administration to discuss the tariffs. 'Our Prime Minister has a good relationship with Trump. We don't want to give up on the U.S. market,' stated Rebughini. Another method to enhance Italian wine relationships is the VinItaly Ambassador program. 'We have now trained over 1500 people to be Italian wine ambassadors at our VinItaly International Academy,' explained Stevie Stevie Kim, Vinitaly Managing Partner. The purpose of the program is to education wine professional, such as importers, distributors, buyers, educators, and other members of the wine trade, on the intricacies and joys of Italian wine. This allows them to better explain the benefits of Italian wine to consumers. 'The academy has been running for 10 years now, and we offer the training and certification exam at VinItaly in Verona, and now at VinItaly USA,' stated Kim. 'We are very proud of all of our Italian wine ambassadors.' She explained that in addition to the in-person training sessions where the ambassador candidates taste and evaluate Italian wine, there is also a 40 hour online program that provides the history and theory aspects of Italian wine. President Trump Meets With Visiting Italian Prime Minister Giorgia Meloni At The White House Though the Italian wine executives want to maintain their position as the #1 wine import country to the U.S., they also recognize the need to explore other markets for Italian wine. 'Rightfully the Italian wineries are looking into other markets, but at the end of the day, they don't want to give up on the U.S.,' said Rebughini . He mentioned that they are looking at India and have held several small events there. In addition they are also expanding tasting events in South America and Asia. 'The mission is to promote Italian wine abroad, but Italian wineries want to keep on investing and increasing their presence in America. We haven't heard anyone say that they want to get out of the U.S. market,' Rebughini concluded. Mr. Rebughini, Mrs. Kim and Mr. Bricolo at OperaWine 2025
