Exploring new market opportunities through entrepreneurial innovation at "El Grifo" Winery in The Canary Islands, Spain

Abstract

Las Bodegas El Grifo (El Grifo wineries) is located on the island of Lanzarote in the Canary Islands archipelago. It is one of the oldest wineries in Spain (since 1775), and it belongs to the “Denomination of Origin” (DO) Vinos de Lanzarote. The corporate entrepreneurship of this company is palpable in its product line, and this case study is focused on several initiatives carried out by the company in recent years. First, this company’s corporate entrepreneurship and innovation actions are associated with the close relationship with viticulturists, which resulted in one of the main research and development (R&D) projects related to the search for sustainability and environmental adaptation. They began to collect data and conduct tests with the vines, which led to the first winter harvest in the Playa Quemada area in 2022. This harvest is a milestone in Europe since it is the first to be done in the northern hemisphere during this season. In addition, another entrepreneurial action is focused on its internationalisation. The company has opened up new markets through collaboration with liquor importing companies and online sales. The agreements established with partners based in Germany, Switzerland and Spain allowed the winery’s products to reach all of Europe and the US market. Thus, after COVID-19, the turnover in export markets increased and online sales intensified through a more robust platform.