ESSEC Global MBA’s Top 20 Finish at the Harvard Case Competition

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Each year, the Harvard Global Case Competition challenges top business school students from around the world to solve a complex, high-stakes M&A scenario. This year’s case was set in the luxury automotive world and asked: Should Ferrari acquire Pirelli?

Representing ESSEC Business School, a five-member Global MBA team: Kumar Anunay, Valentina Angelucci, Elizaveta Tereshchenko, Priyanka Gandhi and Hussein Hammoud, spent three intense weeks diving deep into strategic analysis, financial modeling, and industry research to craft a bold, well-substantiated recommendation.

Their efforts paid off: out of over 300 teams globally, ESSEC placed in the top 20 and earned an Honorable Mention. We sat down with two team members, Anunay and Valentina, to hear more about the experience, the teamwork, and what it was like to present their work on the historic Harvard campus.

What was this year’s Harvard Case all about, and how did it feel to dive in?

Both: The global Harvard Case competition is one of the world's most prestigious, hypothetical M&A case competitions, attracting business and finance students from across the globe. This year was the 10th edition of the Global Harvard Case competition. The case was set in the luxury automotive industry - “Should Ferrari Acquire Pirelli?”. Our team had to work as consultants for Ferrari, analysing and advising whether they should go forward with this M&A deal or not, and if not, to propose an alternative company to acquire.

Anunay: I was thrilled when I got the news that I’d been chosen to represent ESSEC at the Harvard competition, joining a five-person team whose members came from all over and brought very different professional experiences to the table. Those three weeks were a whirlwind of brainstorming sessions, spirited debates, and plenty of curveballs—but I learned more than I ever expected. In the end, out of over 300 teams from top business schools, we made it into the top 20 and even earned an Honorable Mention.

Valentina: I am so happy to have been selected as part of the team because this was an opportunity for me to get some business experience, different from anything I’ve done before. It was an honor to be selected from a group of so many talented applicants and hopefully we made our classmates proud! Once we received the case, I was relieved to learn it was focused on Ferrari and Pirelli, two companies I am very familiar with, and an industry I am interested in. Previous years have focused on tech and AI, so it was good to get something different! At the beginning I was quite apprehensive thinking about the sheer volume of information we needed to process, analyze and represent cohesively, as a group of 5 people, but with some advice from last year's ESSEC participants, and jumping in and making the best of it, we managed and did well! I’m very proud of our effort and achievement.

How did your team collaborate to crack the case and what was the ride like?

Both: Given the short turn-around time (3 weeks), we dived into the case from the day it was launched! As a team, we were very excited that the topic was focused on the automotive sector as it is something we were all interested in but hadn’t yet had the chance to work on. The Harvard case is known to be very demanding, emphasizing financial resolution and thorough research. We knew upfront that managing this, along with our hectic MBA schedule, was going to be a challenge and so we set weekly targets, regular check-ins and meetings, and divided the work based on the strengths of each teammate, namely finance and research. As buy-side consultants we needed to do thorough market analysis and identify new trends in the luxury automotive industry; conduct extensive financial analysis of both Ferrari and Pirelli in order to make a decision. Once we’d rejected the acquisition of Pirelli on grounds of feasibility of the deal and potential negative synergies, we had to identify and evaluate other potential target companies, identify synergies and risks, and undertake feasibility studies of the ultimate solution we proposed - The Italian Sea Group (ISG). ISG owns several luxury Italian powerboat and sailing boat companies. The main reason we selected this company, synergies aside, is that it clearly aligns with Ferrari’s current venture into the sailing world, and that the financials beautifully aligned!

Anunay: The case was slightly more inclined towards the financial side of the business which I really loved. It was an unforgettable experience, challenging but very rewarding. We had many long days of class, followed by long nights of case work, lively discussions and debates, powered by many coffee breaks and brainstorming sessions. Apart from that, we were also lucky to have practical and moral support from the GMBA alumni who had participated in the Harvard case competition last year. Hopefully we can do the same for next year’s group!

Valentina: The ride was tough, an exhausting 3 weeks! But so satisfying and rewarding in the end. I think we were all honoured to have been chosen as part of the team representing ESSEC and wanted to make the most out of the great opportunity!

How was your visit to the Harvard Business School and Boston?

Anunay: The overall experience of visiting Boston and HBS, and the opportunity to represent ESSEC was beyond amazing. The hosts of the Global Harvard Case competition arranged a 2-day event at Harvard which included a campus tour, industry-leading guest speakers, a gala dinner and networking opportunities. We got to connect with participants from different Business schools all around the world, and learn how their teams approached the topic and what various solutions everyone had proposed. We had a thought-provoking talk on life and work from Grant Freeland, a professor from Harvard and Dartmouth, and senior advisor at BCG; a insider talk on BCG’s method to analyse and maximise shareholder returns with Michael McLaughlin and a presentation by Danijel Lipovac on business strategy and M&A. The opportunity to engage with global business minds and fellow students was truly enriching and inspiring.

Valentina: The trip to Harvard was a great way to celebrate our hard work and achievement, cement our learnings, and gain professional inspiration and insight from being in a new place with new people. It was a great feeling to be on Harvard’s campus and learn about the rich history of the institution! And we took the mandatory photograph with the Harvard Business School sign which was a fun thing to check off the list.

In what ways did engaging with international peers expand our horizons?

Both: When we went to Boston, we had the opportunity to meet with the students from a few of the other schools who participated in the competition. Until this point, we don't know who we would be competing against. We learned that there were around 300 schools competing in the competition, from all over the world. Not to mention the different ages, academic programs and backgrounds people came from. It was great to experience a coming together of different people, all with the same interest and determination!

Valentina: Given everyone's different backgrounds, it was interesting to learn about how they approached the case - from what their conception of Ferrari is as a luxury brand, to what they believe it needs as it continues to grow. A few of our team members are from the Luxury CLL, so our approach was very focused on maintaining Ferrari’s brand value. Other teams didn’t consider this at all, and instead came with a more sustainability-focused approach. Another team proposed no acquisition at all, simply reinvesting into Ferrari. This was very interesting to see and learn from because every team had clear substantiation for their choices. On a more social-professional side, I got to speak with some participants and learn about their own career objectives and what's next for them. It’s nice to see that some pain points are universal, but also to see fresh perspectives on companies, roles and geographic locations.

What takeaways from this experience will stay with us moving forward ?

Valentina: I think the first thing we felt as a group was the power of being able to accomplish something big together. Given our time constraints and the demand of the case, we wouldn’t have been able to do it without dividing, conquering and coordinating. There was so much information to process and analyze that we had to communicate clearly and often to make sure we were all on the same page. That was a feat in itself! For me personally, the case offered an opportunity for me to get into something quite foreign to me, and although it had its challenges and learning curves, we came out well in the end and better for it. The trip to Harvard was inspiring too - from just being on the campus, to the talks, interactions and exchanges we had. It was an incredible opportunity to see and learn something new and impactful, and of course it looks good on a CV too!

Anunay: What really sticks with me from those three weeks is how much I grew in handling high-pressure situations, when deadlines were looming and every decision felt like a sprint to the next task. I also discovered the magic of bringing out the best in people: finding what each teammate does best and helping each other shine. And above everything, I learned just how crucial time management is, juggling the competition, MBA classes, projects, and a personal life taught me that finding balance isn’t just nice to have, it’s what makes the whole ride worthwhile.

This achievement at the Harvard Global Case Competition highlights the caliber of talent within ESSEC’s Global MBA program. It’s an experience that not only sharpens strategic and leadership skills but also fosters collaboration with top minds from around the world. For those seeking to challenge themselves in a global, high-impact environment, the Global MBA offers the perfect platform to develop the skills necessary for success in today’s business world.