Globalization patterns in the wine industry: a comparative analysis

The goal of this thesis is to analyze how the second wave of internationalization in the wine industry that we are currently experiencing has been transforming the market. In discontinuity to the already existing ‘traditional market approach’, a new ‘entrepreneurial-financial approach’ is emerging in the market. The coexistence of these two phenomena is analyzed to better understand the evolution of the market. The wine industry is characterized by the co-presence of many small wineries and few very large multinational firms that seek new opportunities to consolidate their position while increasing their business. The ongoing momentum for Prosecco is analyzed and put into context through the case study of Mionetto and its acquisition in 2008 by Henkell & Co. Sektkellerei, one of the main players in the sparkling wine industry worldwide. This and other examples of M&As are described with the aim of investigating the key elements in the evolution of the market.