Italy's Kimbo Ends 2016 With Record Turnover
Italian coffee brand Kimbo has closed 2016 with a record turnover of €175 million, up 3.3% year-on-year.
Of the company's sales total, 81% was achieved in Italy and 19% on foreign markets. Kimbo is present in some 80 countries and last year’s exports amounted to €32 million (+14.5%). It has an especially strong presence in France, Greece, Belgium, Canada and the UK.
The Naples-based company managed to record a good performance in the area of ground coffee sales, and following a successful launch of sales of Nespresso--compatible capsules, launched last July, reports daily Avvenire.
Rising To The Challenge
In the short term, the company has identified two challenges. The first is to increase the presence in some regions of Italy, such as Lombardy, which are considered crucial in terms of consumption. Kimbo is currently very strong in Campania with 70% of market share and Lazio with 14%. Secondly, the company wants to expand abroad, where over four years it aims to go from 19% to 30% of turnover, with the US and the Far East seen as prime markets.
In its home market, sales of ground coffee are decreasing due to the increasing popularity and marketing of capsules by giants like Lavazza and Nespresso. As a result, Kimbo has prepared an advertising campaign focused on mokka lovers and also plans to open retail outlets where the Neapolitan custom of paid coffee will be rekindled.
Kimbo’s most famous brands are Kimbo, Kose' and La Tazza d'Oro.
© 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