Source: Balsamic Vinegar of Modena since 1605
Origins of Giusti Family Dynasty (1605–1863)
The story of Acetaia Giusti, the world’s oldest balsamic vinegar producer, began in 1605 when Mr. Giuseppe Giusti and Mr. Francesco Maria Giusti appeared in the business ledger of Duke Cesare d’Este of Modena, Italy. Their small food shop marked the start of an enterprise that would span seventeen generations.
In the upstairs room of their shop, the family placed their first wooden barrels to age what would become known as Modena’s “black gold” — a rich balsamic vinegar that became a family tradition.
By 1613, Mr. Giovanni Maria Giusti received permission from Cardinal Barberini (Catholic Leader) to sell the vinegar in Bologna, an early sign of growing prestige. Over the centuries, production was passed down as both a craft and a legacy. The vinegar was so prized that it was even believed to have healing and cosmetic powers.
In the mid-1800s, under Mr. Giuseppe Giusti and Mr. Pietro Giusti, the family gained national fame. At the 1861 Italian Exposition, they presented a 90-year-old balsamic vinegar and won a Gold Medal. The same year, the famous barrel A3 used to transport the vinegar became a family treasure, still displayed in the Giusti Museum.
In 1863, Mr. Giuseppe Giusti authored “The Giusti Recipe,” the first written guide to producing a “Perfect Balsamic Vinegar,” a milestone that transformed an art into science and secured the Giusti legacy as pioneers of their craft.
The "Gran Deposito Aceto Balsamico Giuseppe Giusti" Source: The history of Giusti: tradition and innovation since 1605
Source: Case_study_Acetaia_Giusti.pdf
Recognition and the Belle Époque (1873–1900)
Belle Époque referred to a period of French and European history that began after the end of the Franco-Prussian War in 1871 and continued until the outbreak of World War I in 1914. During this period Mr. Giuseppe and Mr. Pietro Giusti showcased their vinegars at major World Expositions — Vienna (1873), Paris (1889 and 1900), Antwerp (1895), and Brussels (1897). Their products won medals and international acclaim, though production remained based in Modena.
By 1929, under Mr. Riccardo Giusti, the family became official suppliers to King Vittorio Emanuele III and the Savoy Royal House, earning the privilege to use the royal emblem. Mr. Riccardo also created the celebrated “3 Gold Medals” Balsamic, made from sun-dried grapes, which remains one of Giusti’s most iconic recipes.
Post-War Resilience and Modernization (1945–1980)
Despite the wars and political upheaval of the early 20th century, the Giusti family preserved its tradition. In the late 1970s, as global interest in Balsamic Vinegar of Modena grew, Mr. Luciano Stefani — the 16th generation, husband of Mrs. Giuliana Braglia and brother-in-law of Mr. Giuseppe Giusti (15th generation) — began modernizing the business with Mr. Luciano Gregorio, Mr. Claudio’s uncle.
They restructured the company, sold the original Modena boutique, and moved production to Via Capitani, focusing solely on balsamic vinegar. In 1980, under Mr. Giuseppe and Mr. Luciano, the acetaia was relocated from the city center to a countryside cottage outside Modena — now the Gran Deposito Aceto Balsamico Giuseppe Giusti. This marked a decisive shift from small-scale artisanal production to an organized enterprise, while preserving the family’s authenticity.
The Family Business Schism (1980–2005)
The 1980s brought both growth and division. Ownership was initially split among Mr. Giuseppe Giusti, Mr. Luciano Stefani, and Mr. Luciano Gregorio. After Mr. Giuseppe’s death in 1991, Mr. Luciano Stefani became majority owner, leading with charisma and conservatism.
By 2003, Giusti’s turnover was €1.6 million, with only seven employees — including Mr. Luciano, Mrs. Giuliana Braglia, and Mrs. Francesca Gregorio, Mr. Claudio’s cousin, who worked as a quality-control intern.
While stable, the company remained small and traditional — a foundation awaiting renewal.
The Crossroads of the Heir: Mr. Claudio’s Return (2004–2005)
Born in 1973, Mr. Claudio Stefani Giusti represented the 17th generation. After earning a Management Engineering degree, he built an international career at Accenture.
In 2004, during a trip to Phoenix, Arizona, Mr. Claudio presented Giusti’s vinegar to Williams-Sonoma (retail kitchenware and houseware items in California) founder Mr. Chuck Williams, who told him, “It is an honor to meet you. I have long hoped to have your vinegar in our stores.” This moment, which Mr. Claudio called his “Phoenix Epiphany,” revealed Giusti’s global potential.
Rejecting a promotion in Paris, he returned to Modena in 2005 to join the family business. Encouraged by his father’s challenge — “It could be an interesting little challenge for you” — Mr. Claudio began reshaping Giusti’s destiny.
Restructuring and Rebirth (2005–2015)
Applying his consulting expertise, Mr. Claudio restructured operations, modernized sales, created a catalog, and founded the Giusti Museum, blending history with marketing. He personally visited clients worldwide to build relationships and refine the brand’s story.
Cultural clashes emerged between Mr. Luciano’s traditional management and Mr. Claudio’s collaborative style, but the younger leader’s empathy and persistence gradually transformed the company culture.
Between 2005 and 2015, turnover rose from €1.6 million to €6 million, and staff expanded from seven to twenty. In 2015, amid talks of selling the company, Mr. Claudio acquired 60% ownership through an €11 million leveraged buyout, becoming majority shareholder while keeping his father as President and Administrator.
“I wanted to be responsible for people’s growth and well-being — to act as a guardian.”(Mr. Claudio Stefani Giusti)
The 17th Generation Renaissance (2015–2024)
Claudio Stefani Giusti Source: Les Hénokiens - Association internationale d'entreprises familiales au moins bicentenaires
Under Mr. Claudio’s leadership, Giusti experienced exponential growth. By 2024, it employed 80 people, earned €20 million in revenue, and exported to over 80 countries.
Key Milestones
Ownership now stands at 83% for Mr. Claudio, 15% for his father, and 2% for Mrs. Francesca Gregorio, gifted in recognition of her contribution.
The Leadership Duo: Mr. Claudio and Mrs. Francesca
Mrs. Francesca Gregorio, Mr. Claudio’s cousin, evolved from quality control to Operations and HR Director, forming a powerful leadership duo. Her precision and structure complemented Mr. Claudio’s vision and emotional intelligence.
Their partnership built a workplace known as a “Happy Island” — defined by trust, collaboration, and shared joy.
Conclusion: The Black Gold and the Golden Rule
The Giusti family story is about continuity through change — about how one family, guided by values of quality, patience, and respect, has preserved its essence for over four hundred years, proving that true excellence, like aged balsamic vinegar, only deepens with time.
Source: Les Hénokiens - Association internationale d'entreprises familiales au moins bicentenaires, Balsamic Vinegar of Modena since 1605, Case_study_Acetaia_Giusti.pdf
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