Illycaffe, Hangzhou Onechance to partner in China
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ITALIAN coffee roaster Illycaffe is partnering with e-commerce firm Hangzhou Onechance Tech Corp to grow its business in China, daily newspaper la Repubblica reported on Sunday (Jul 23).
“Thanks to this partnership, we will strengthen our presence in the home and online channels,” Illycaffe chief executive officer Cristina Scocchia told the daily. Illycaffe’s goal is to treble its turnover in China by 2026, she said.
Illycaffe is on track to meet its goal of having an initial public offering (IPO) by 2026, Scocchia said in June. Ahead of an IPO, Illycaffe plans to increase its presence in the US as well as China. BLOOMBERG
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