Italy Winemakers Seek Fashion Boost On Global Stage -- Reuters(Reuters) - Italy's top winemakers are joining forces with the country's luxury goods elite as the world's second-biggest wine producer tries to give itself an edge in the battle for U.S. and emerging market customers amid falling consumption at home.
Sales of Italian wine were flat at 12 billion euros last year and recession at home, as the country drives through austerity measures to tackle a sovereign debt crisis, means the industry is becoming increasingly reliant on exports.
Italy is already the world's top wine exporter by volume and number two only to France by value. It saw wine exports climb 13 percent to 4.4 billion euros in 2011, when 2.4 billion litres, or about 55 percent of total sales volume, was sold abroad.
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My Comment: The competition is killing them. Now is the time to find an edge.
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