August 13, 2022

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Illycaffè aims to double in the US and push China. Half year closed at 265 million

Trieste. 21% increase in revenue in the first half, to €265 million to you cafe Which certifies “the effectiveness of the strategies we identified in the industrial plan.” A plan that has already achieved some goals, such as strong growth in the US market, “which we aim to double,” and in China, where the cap has been set. talking about it christina scotiaCEO of the Trieste Group, who sees the half-year accounts as a “strong anchor” for facing a “complex and difficult” in the near future

The US market has given you great satisfaction. The half-year trend is pointing to +34%, what’s the next target?

“Our ambitions, which must be achieved during the implementation of the Industrial Plan 2022/26, is to make the United States our second domestic market, and therefore with a doubling of the turnover that last year amounted to 82 million euros, and thus will have to reach 150/160 million. A goal that we believe can be It is achieved by growing in a balanced way on all channels, strengthening Horeca, increasing our presence in premium distribution at scale and also thanks to the collaboration with Amazon.”

What makes you successful in the United States?

“We have a distinctive brand that represents the beauty of Made in Italy. The Illy brand is attractive to the American consumer who loves Italy and quality. We are working on planning to allow us to increase our presence and visibility in a fiercely competitive market.”

Another country high in the double digits is China, what’s the point here too?

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We are very satisfied with the results achieved even though China has seen a return to restrictions due to the epidemic. The growth was driven by +16% online and shows that we have been able to beat an increasing number of Chinese consumers. Here the goal is more ambitious, we are aiming for exponential growth leading to a tripling of sales, again within the plan, and evaluating different forms of presence, even physical, in such an important market.”

Italy, Europe, USA, Asia… And then?

“In a period like the one we live in, which is characterized by uncertainty and volatility, I think it is important to be clear about our strategic choices. So we aim to consolidate our presence in Italy where we are leaders in the quality sector, double in the US, triple in China, and then, with a sequential logic, accelerate in Europe, I think of Spain, France, Germany and the UK, the markets in which we have the potential to make our brand The commercials are more visible to the families of potential Illy fans.”

Coming to the channels, the trend?

“What has given us great satisfaction this half year is that we have achieved significant and balanced growth: not one market or one channel but across all markets and in all channels.”

Raw materials, energy logistics: factors that have a strong increase in joint costs. What is their effect?

“Costs are going up exponentially, and not just for us. Coffee raw material prices have gone from $110 a pound to $200, to $260 in February; a container cost 2,700 euros a year ago, today it’s $10,000, and it’s hard to find. … the context weighs and shrinks margins, hence the decision to focus on strategic options to push for growth that can offset the increase in costs.”

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Kartell’s Rechair Chairs Made From Recycled Illy Coffee Pods

Is the inflation rush a concern?

“Certainly because it can erode consumer confidence and lower purchasing power for households can penalize companies in a privileged position. The context makes us think of the second semester more difficult than the first, but the results we achieved form a solid pillar for facing the coming months that will be more complex and challenging. ».

Illycaffè was also present at Salone del Mobile in another guise, noting a collaboration with Kartell, who introduced a chair made from recycled Iperespresso Illy coffee pods.

“It was a great collaboration between two iconic brands that test sustainability as something real and authentic. Suppose it was the beginning of a new project for both of us.”

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