Channel Mix DeteriorationA structural decline in distance selling combined with modest price declines in wholesale is weakening the sales mix and reducing turnover in key channels.
Pricing PressureWidespread pricing pressure in the Italian wine sector is squeezing margins and creating stress on producer profitability.
US Market HeadwindsUnfavourable dynamics in the United States, including import tariffs, adverse currency movements, and softer demand, are compressing margins and limiting the ability to pass on higher costs.