Tuesday 04 October 2022

Lavazza aims for double figure growth in 2015

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MILAN – Lavazza expects its North American business to grow at double figure rate also in 2015. “We have updated our portfolio with a wider range of coffee options. This strategy is paying off and we are very happy with the results,” said Giuseppe Lavazza (in the picture), Vice President of the Lavazza Group, in an interview with ClassCnbc published by the Italian economic daily Milano Finanza.

The market is moving very fast, said Lavazza. The “big bang” that has caused a domino effect across the board was the entry of a new global player – JDE – that is revolutionizing the world coffee market.

Fortunately, Lavazza has found itself well prepared. On the one hand, we have in house financial resources, on the other substantial cash raised from the sale of sale of a portion of our holdings in Green Mountain’s common stock.

The cash has arrived at the right time for us to put forth a bid that would allow us to become a relevant player in two other European markets – France and Denmark, he added.

With regard to the multi-year partnership with the US Open, Lavazza said: “The U.S. are the first country on which we are placing our bets in order to achieve our aim to become more and more a global Company. The sponsorship of the US Open Tennis Championships is an integral part of this strategic path.”

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