China, export of wine breaks down but one invests: Ethica Wines acquired Interprocom Cantine Divine

That China which, according to many studies, was expected to become the world leading wine market within a few years has not lived up to expectations, despite years of investment from all major producing countries. 2025 data is clear: wine imports by the “Celestial Empire” have decreased both in value (-14.6%) and in volume (-26.7%), reaching 1.25 billion euros and 207.2 million liters, according to the Spanish Wine Interprofessional Organization (Oive). Italy was no exception, as imports of Italian wine fell by 15.5% in value, down to 82.3 million euros, and by 14.1% in volume, to 14.3 million liters.
Yet, there are still those who invest, confidently, in the potential of a country which is, in effect, a “continent”, with a population close to 1.5 billion people. Among them, there is Ethica Wines, headed by ceo Francesco Ganz and specializing in the international trade of Italian wines (with minority participation, at 35%, by Isa-Atesino Institute for Development, the financial institution linked to Curia of Trento). The company posted more than 120 million dollars in revenue in 2024 and boasts in its portfolio wineries ranging from Bellavista (and other estates owned by the Moretti family) to Borgogno, from Casanova di Neri to Cusumano, from Nino Franco to Pico Maccario, from Ricasoli to Ridolfi, from Sella e Mosca to Vespa Vignaioli, frm Villa Bucci toVilla Sandi, and also the Bellini brand.
Ethica Wines aims to establish “a local platform dedicated to the development of Italian wine in China” through “the entry of Interprocom Cantine Divine into the Group perimeter, via the subsidiary Ethica Wines Asia Pacific Pte. The agreement, signed on February 2nd, 2026, provides for the completion of the operation by April 30th, 2026”, explains an official note. The operation “marks a strategic step in the development path of Ethica Wines in China and confirms the Group goal of building a solid, dedicated, and scalable platform entirely focused on Italian wine. After entering the Chinese market in 2022 with Zefiro Wine and expanding into New Zealand with Sapori d’Italia, Ethica Wines continues to pursue an international growth strategy based on long-term investments, local expertise, and distribution models designed to enhance Italian wine in major global markets”.
Under the new structure, Interprocom and Zefiro Wine will merge into a single operational platform with the goal of strengthening the presence of Italian wine in China, expanding its commercial reach, and improving effectiveness across various sales channels.
“Founded in 2013, Interprocom has established itself as a leading operator for the import and distribution of Italian wines in China. Based in Shenzhen with operational offices in Beijing and Shanghai, the company serves a widespread network of partners across the entire country. Zefiro Wine, headquartered in Shanghai, contributes complementary expertise and strong capabilities in interpreting evolving consumer trends and the local market”. “The entry of Interprocom represents a key milestone in our development in China  - comments Francesco Ganz, ceo Ethica Wines -  their deep knowledge of the market, long-standing relationships, and long-term approach make them an ideal partner to reinforce and carry forward our vision for Italian wine”.
“In these years, Interprocom has grown  - adds founder Alessandro Mugnano, founder Inteprocom -  building solid and lasting relationships with producers and partners. Becoming part of Ethica Wines means continuing this journey within a structured project, with a clear international focus and a strong Italian identity”.