Italian olive oil company Coricelli has achieved sales of €415 million in its financial year 2024, reflecting a 25% increase, while sales volume rose by 3.7% to over 62 million litres.
Despite a slight downturn in the Italian extra virgin olive oil market, Coricelli’s market share grew domestically by 22% to 13.4% in the supermarket and hypermarket channels, making it a leader in the 100% Italian segment, according to media reports.
Exports, particularly to the US, Mexico, and Japan, accounted for 36% of sales. It now plans to expand to Canada, the UK, and Brazil.
CEO of the company, Chiara Coricelli, attributed this growth to investments in innovation and sustainability, particularly focusing on promoting 100% Italian extra virgin olive oil.
Commitment To Sustainability
Coricelli’s commitment to sustainability includes investments in energy-efficient plants, circular economy practices, and sustainable packaging, resulting in significant reductions in plastic use.
It also prioritises recycled materials, achieving high percentages for glass and paper/cardboard.
The company’s latest sustainability report highlights 81% and 38% reductions in methane emissions and plastic use, respectively. At the same time, the use of recycled glass (68%) and paper/cardboard (83%) is increasing.
The ‘Sustainable Olive Oil Supply Chain’ project, launching 3,000 bottles of Umbrian DOP olive oil in 2024, added to the existing 310,000 bottles of Italian farmer-sourced extra virgin olive oil.
This DOP Umbria oil is produced under an agreement ensuring fair minimum prices and payment terms for olive growers, fostering better agricultural planning and a more equitable distribution of profits throughout the supply chain.
Founded in Spoleto, Italy, in 1939, Coricelli, which owns the Pietro Coricelli and Olio Cirio (acquired in 2009) brands, has been under the leadership of Chiara Coricelli since 2018.