Yum China, Lavazza Plan More Lavazza Cafes in China
September 22 2021 - 6:54PM
Dow Jones News
By Stephen Nakrosis
Yum China Holdings Inc. and Luigi Lavazza S.p.A. on Wednesday
said they plan to open 1,000 new Lavazza cafes in China by
2025.
Through their existing joint venture, the companies will invest
$200 million to fund future growth, they said.
The companies also said the joint venture is expected to be
Lavazza's exclusive distributor in mainland China.
The joint venture's first Lavazza flagship store, the first
store outside of Italy, opened in Shanghai in 2020. Since then, 20
stores have opened in China, the companies said.
The next phase of the expansion will see the joint venture
"increase the density of Lavazza cafe network in higher tier cities
with a variety of store formats for a wider range of occasions."
The joint venture will also market, sell and distribute Lavazza's
retail products in mainland China, the companies said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
September 22, 2021 18:39 ET (22:39 GMT)
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