(ANSA) – ROME, MAR 31 – Trieste based coffee maker illycaffè told ANSA Monday it was weighing whether to move part of its production to the United States if Donald Trump’s announced April 2 tariffs hit coffee.
“We are scouting, we are evaluating whether part of what we sell on the US market can be produced there, in the United States. We hope it is not necessary” but “we are all holding our breath to understand if duties on coffee will arrive”, the CEO of illycaffè, Cristina Scocchia, said in an interview with ANSA.
For the manager, if the tariffs were to also hit the coffee sector, “they will not be easy to manage”.
“It takes two years to build an assembly line”, therefore the solution, “a real reaction to the tariffs should involve identifying some facility”.
Illycaffè S.p.A. (branded and stylised as illy) is an Italian coffee company specializing in espresso, headquartered in Trieste.
Illy markets its coffee globally in silver and red pressurized, oxygen-free cans; operates a network of cafes on shopping streets, in museums, and in airports; and, since 2009, has marketed a line of coffee-flavoured energy drinks as illy issimo.
Illy was founded in 1933 by Francesco Illy, remains family-controlled and employs about 2700+ employees (2015). 2022 revenues totalled €567.7 million, and in late 2019, illycaffè sought to expand into the United States market, offering a 20% stake in the company to potential investors. (ANSA).
Read article…
“We are scouting, we are evaluating whether part of what we sell on the US market can be produced there, in the United States. We hope it is not necessary” but “we are all holding our breath to understand if duties on coffee will arrive”, the CEO of illycaffè, Cristina Scocchia, said in an interview with ANSA.
For the manager, if the tariffs were to also hit the coffee sector, “they will not be easy to manage”.
“It takes two years to build an assembly line”, therefore the solution, “a real reaction to the tariffs should involve identifying some facility”.
Illycaffè S.p.A. (branded and stylised as illy) is an Italian coffee company specializing in espresso, headquartered in Trieste.
Illy markets its coffee globally in silver and red pressurized, oxygen-free cans; operates a network of cafes on shopping streets, in museums, and in airports; and, since 2009, has marketed a line of coffee-flavoured energy drinks as illy issimo.
Illy was founded in 1933 by Francesco Illy, remains family-controlled and employs about 2700+ employees (2015). 2022 revenues totalled €567.7 million, and in late 2019, illycaffè sought to expand into the United States market, offering a 20% stake in the company to potential investors. (ANSA).
Read article…
