Ethica Wines Invests $5 Million in New Bangkok Headquarters

Strategic 'Green Dragon' Initiative Aims to Strengthen Italian Wine Presence in Asia-Pacific

Ethica Wines, a company representing and marketing a selection of 56 Italian wineries worldwide, has announced a $5 million investment to establish an independent subsidiary with operational headquarters in Bangkok. Scheduled to open in May, this new hub will coordinate the distribution of its portfolio across the Asia-Pacific region.

The objective? To double the market share by 2029, overcoming the challenges of market fragmentation and cultural barriers in Asia.

CEO Francesco Ganz highlighted Bangkok's strategic advantages, stating that "It offers numerous logistical and operational benefits: it's positioned in a strategic time zone for the entire Asia-Pacific, has a well-connected airport, and is becoming an increasingly important hub for international companies."

The company's expansion plan, named Green Dragon, includes:

• optimizing the supply chain by creating dedicated warehouses in Livorno and Bangkok
• increasing the number of sales managers from five to ten
• implementing multichannel models
• conducting marketing efforts to protect distributed brands through alignment of positioning and pricing.

The new subsidiary will be wholly owned by Ethica Wines, with direct involvement from key figures Giovanni Oliva and Vera Malisani, who have actively contributed to the project's development and will play prominent roles in managing operations.

In 2023, the Istituto Atesino di Sviluppo acquired a 35% stake in Ethica Wines, while the remaining capital is held by a company controlled by the current CEO, supported by two operational partners.

This strategic move highlights even more Ethica Wines' commitment to strengthening its presence in key markets such as Japan, Korea, China, and Australia, further solidifying its role in promoting Italian wine excellence globally. In 2024, Ethica Wines reported revenues of $121 million, up from $83 million in 2023.