Go west, ragazzo!
Italian coffee giant Illy has big plans for the USA
Whatever happens, we keep drinking our coffee. But the way we consume coffee is changing, says Andrea Illy. In an interview with @Corriere della Sera Andrea Illy laid out the Italian company’s plans for the States and our changing coffee habits.
Lockdowns ensured that we’re drinking more coffee at home. A lasting change as a result of new work attitudes and realities, i.e smart working: we’ll be drinking less in the office, more elsewhere. Two cups at home, one out, according to mr. Illy. Online platforms will change, specialized e-tailers and online sales of cups will grow.
Growth in the USA
Mr. Illy laid out Illy’s big plans, which is where private equity company Rhone Capital comes in. Goal: to finance growth in the USA, world’s biggest coffee market. Which currently makes up 20% of Illy’s turnover. They’ll focus on big cities, stations and airports. More expensive than working with international partners – as was the original plan from a year ago – but also with bigger margins. To convince Americans Illy will have to step away from the espresso format, and offerAmerican-style coffee.
And China? Illy is already selling in 16 Chinese cities and has a company based in Shangai. Per capita consuming is still down compared to western markets. Coffee heads will trun east eventually, but for now: Go West, ragazzo!
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