Italian coffee company Lavazza is targeting a turnover of €2.2 billion by 2020 and plans to continue with further acquisitions, said CEO Antonio Baravalle in an interview with La Stampa.
He said that last year Lavazza made an important step in the field of international growth, recording an increase of nearly 30% in turnover.
According to Baravalle, this result will enable the company to compete directly with the major players in the industry, adding that Lavazza will continue to evaluate new opportunities by searching for “local jewels that are consistent with our global strategy".
Bavarelle announced the opening of the company’s first flagship store in Milan, where customers will be able to “enjoy the Lavazza experience in 360 degrees”.
He added that Lavazza has been working to promote and develop joint projects with other Italian coffee operators, such as the one implemented with Illy on the study of the Arabica coffee genome.
The CEO highlighted the success of the group's commercial agreement with Coca Cola Hellenic, which leverages the two companies in Greece and Eastern Europe.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine