Illy sells 70 million euro bond

Illy sells 70 million euro bond

An increasing number of companies in the coffee market are forming ever bigger mergers, which has prompted coffee maker Illycaffé to sell a 70 million euro bond. The money will be used to strengthen its market share.

Aim: to double turnover

Unlike Mondelez and DE Master Blenders, Illycaffé does not want to consider mergers and it has decided to remain on its own. In order to compete with the major rivals, it has decided to cash a 70 million euro bond. Previously, it had considered heading to the stock exchange, but has now decided against that move.

 

"We are a family business and we have two things to protect. One is the dream of the founder to offer the greatest coffee in the world and the other is our family name. This requires a long-term vision and cannot be achieved with quarterly results,” CEO Andrea Illy said.

 

In 2014, Illycaffé managed a 4.5 % turnover increase to 391 million euro, but it aims to double its turnover in the next 10 years and have 600 stores worldwide. It also wants to open another front, which is to compete with Nestlé and its Nespresso pads in the premium coffee market.

Questions or comments? Please feel free to contact the editors


Hunkemöller wants to conquer Switzerland

17/08/2017

Dutch lingerie chain Hunkemöller aims to open a chain of physical stores in Switzerland, after having already opened a Swiss web shop in September 2016. The first physical store will open its doors in October.

Shoe brand Bally put up for sale

16/08/2017

Austrian investment firm JAB Holding wants to sell Swiss shoe brand Bally, hoping to get at least 600 million euro. The same company sold shoe brand Jimmy Choo not too long ago, as it wants to focus on its food brands henceforth.

Crocs loses patent battle

14/08/2017

Shoe manufacturer Crocs has lost a patent court case revolving around the shoe’s design. According to the American Patent & Trademark Office (USPTO), another company has had a similar design for much longer.

Coolcat's losses compound

14/08/2017

Dutch fashion chain Coolcat, part of entrepreneur Roland Kahn’s group, has not managed to lower its losses in 2016. On the contrary: its losses grew more than 50 % compared to the year before.

Zalando's growth once again surpasses 20 %

10/08/2017

German Zalando has achieved its 20 % growth target for the second quarter, but just barely. It still forecasts a 20 to 25 % growth for its full fiscal year.

Gucci files lawsuit against Forever 21

09/08/2017

Fashion label Gucci has decided to file a lawsuit against fashion chain Forever 21 in the United States. The case revolves around several pieces of clothing, all with a blue-red-blue or green-red-green ribbon. 

Back to top