At this point, we know only that they are leaving Vietti. Discussing their motives and future plans is just useless speculation until Luca speaks. Frankly, the die was cast 7 years when they sold their land. That is something I never thought could happen. There is a broader, cultural message underlying all of this, and in my opinion, it is not a good one.
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Sorry for asking - why “not a good one” ?
The ongoing erosion of rooted cultures, losing any sense of lineage and ancestry and eschewing any obligation to the future, the replacement of older values with those of the globalized consumer machine. That sort of thing.
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Sir, this is an Arby’s.
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𝕍𝕀𝔼𝕋𝕋𝕀
From a Barolo/Barbaresco Facebook group I belong to from one of the administrators:
“An impactful message reached me last night, from the caro Luca Currado:
Luca and Elena have taken the the decision to leave Vietti and start a new chapter, with new joys, tasks, challenges and passion, starting in 2023. Their path will hence be divided from the one of the current owner, Kyle Krause, who acquired the estate in 2016. Now the time has come to pursuit some other goals in life.
Luca & Elena were the heart & soul, the face and personification of Vietti. With all their work and dedication they brought the winery to the highest heights, internationally, where it stands today. The two can look back proudly and smiling to many dynamic years, full of work, satisfaction, success and a great teamwork, cultivating so many different vineyards, from Castiglione and almost every other commune of the Barolo DOCG to Asti & Tortona.
Antonio Galloni has spoken beautiful words in his article of his ‘winery of the year 2022’: Vietti.
Next to the legacy of Luca and Elena, what remains are many friendships all over the world.
I remember that Viettis Barolo Brunate, a long time ago, was one of the wines that made me fall in love with Barolo, as Nebbiolo on one of its highest level of expression & beauty. Will never forget.
To a new path in life, Luca Currado Vietti & Elena Penna! 
Cheers to you! 
PS: This news is posted here with the explicit permission of Luca.”
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AG wrote an excellent few paragraphs in one of his Chianti articles about how there is very little wine making/ managing talent coming in the next generation in Italy.
Not only are there few successors in the families that own the wineries, the famous consultants have not groomed any young talent to take over when they retire.
This could be a reason for what happened at Vietti and Isole e Olena.
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For context, other iconic producers have also been sold in recent decades, including Prunotto (to Antinori in 1994) and Oscar Farinetti, owner of the Eataly markets, bought both Borgogno and Fontanafredda (largest landowner in the DOCG, as I recall) in 2008.
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Give the guy a break. He wants to spend time with his family and live a little. I’m sure his energies will not be tamed for long. Elena will still make her gin.
Hopefully she will still have access to the Ravera for reserve vermouth
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Former owners staying on for a while post-sale is not uncommon. Think earnouts and non-competes.
All the best to Luca and Elena. I’m sure they’ll be fine.
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Welcome Jeff ! That’s a good group on FB.
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I see your point. But I think most of it is just that the young generation of these old world wine families aren’t choosing to commit their lives to living in the vineyards, learning the craft, farming and making wine. They’re more often drawn to city life and more contemporary careers, and now that city life could be anywhere in the EU, it’s not necessarily even in their country.
Plus, birth rates are ultra-low in Italy, Spain, Portugal and elsewhere, so it’s not usually like there are a lot of kids and all it would take is one or two to commit to the family wine business.
When the retiring generation decides to sell, it’s usually going to be to a conglomerate, but I don’t know if the conglomerate or globalization is driving those events. Are there other local families would could and would step in to buy Vietti? If not, you can’t blame the Currados for selling to a company which is willing and able to buy it for a good price. If it were you, what would you do in that situation?
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One key point as well… many of the historical local families can’t afford to buy their neighbors. Many times only the ultra rich or conglomerates can pay the right price.
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Burgundy seems to be doing okay.
That’s what I would figure. And you can be as sentimental as you want about the broader landscape, but how many millions of Euros are you going to leave on the table when it comes down to it and you’re trying to set up your kids and grandkids for their future?
@Mike_C1 makes a good point. I wonder why Burgundy is faring differently than others in this regard. Maybe the profits are higher, it’s closer to a large city, the quality of life might be different there, maybe it’s partly because the birth rate is substantially higher in France than Italy, Spain and Portugal. It would make for an interesting discussion in its own thread.
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Here’s a quick article/interview
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I think you misunderstood my sentiment, I’m in full agreement with you. No way I’m leaving millions on the table just to preserve a way of life. The farm goes to the highest bidder!
Re-reading, I think I mistook your comments as disagreeing with me, the point still stands on both accounts!
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With respect, I think you’re drawing too broad a conclusion from this. We deal with more than 60 Italian producers, almost all of them family businesses, and I see no ‘replacement of older values.’ Rather the opposite; barriques are out, botti are back. Herbicides are out, cover crops are everywhere. I am already dealing with a number of the kids of the men and women I started with, which is inspiring.
I see a very positive trend.
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This looks like a press release vs. a heartfelt personal message.
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It’s a mix of the 2, and I’m not entirely sure which parts are which.