Yum China and Lavazza Plan to Accelerate Expansion of Lavazza Cafés in China and Extend Partnership to Product Distribution

StreetInsider2021-09-23

SHANGHAI, Sept. 22, 2021 /PRNewswire/ -- Yum China Holdings, Inc. (the "Company" or "Yum China", NYSE: YUMC and HKEX: 9987) and Luigi Lavazza S.p.A. ("Lavazza" or "Lavazza Group") announced that they ...

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Comments

FlareSpark
2021-09-24
FlareSpark
Just another cafe
nctony
2021-09-23
nctony
I'm looking at this [強]
EverSys
2021-09-23
EverSys
Like
- Piggu:
  Ok
JeremyEe
2021-09-23
JeremyEe
Like pls
- EverSys:
  Ye
- Xpeajs:
  Okokok
Xpeajs
2021-09-23
Xpeajs
Like me vack
- JeremyEe:
  like back pls
siewbee
2021-09-23
siewbee
Like pls
- KTX:
  K

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Likewise, we believe Lavazza is the perfect premium brand for Yum China to achieve its coffee aspirations, bringing outstanding quality products and in-depth expertise of the coffee sector, nurtured over the 126 years of our history,\" said Antonio Baravalle, CEO of Lavazza Group. \"The strengths contributed by each partner create a solid foundation for the success of our joint venture, and we are excited to collaborate with Yum China to develop Lavazza into a leading coffee brand in China.\"\nThe next phase of Lavazza store expansion in China is to increase the density of Lavazza café network in higher tier cities with a variety of store formats for a wider range of occasions. With 22 stores as of August 31, 2021, the joint venture plans to more than double that by the end of 2021. The joint venture will further enhance capabilities to drive efficiencies, in particular in-store operation, branding and marketing efforts.\nIn addition, the joint venture will market, sell, and distribute Lavazza's retail products in mainland China, including coffee beans, ground coffee and coffee capsules. Leveraging Yum China's digital capabilities, operational expertise and deep China market knowledge, and Lavazza's top-quality products, the joint venture aims to further grow the Lavazza brand in China.\nAbout Yum China Holdings, Inc.\nYum China Holdings, Inc. is a licensee of Yum! Brands in mainland China. It has exclusive rights in mainland China to KFC, China's leading quick-service restaurant brand, Pizza Hut, the leading casual dining restaurant brand in China, and Taco Bell, a California-based restaurant chain serving innovative Mexican-inspired food. Yum China also owns the Little Sheep, Huang Ji Huang, East Dawning and COFFii & JOY concepts outright. In addition, Yum China has partnered with Lavazza to explore and develop the Lavazza café concept in China. The Company had 11,023 restaurants in over 1,500 cities at the end of June 2021. Yum China ranked # 363 on the Fortune 500 list and was named to TIME100 Most Influential Companies list in 2021. Yum China has been named the Industry Leader for the Restaurant & Leisure Facilities Industry in the 2020 Dow Jones Sustainability Indices. In 2021, Yum China was named to the Bloomberg Gender-Equality Index and was certified as a Top Employer 2021 in China by the Top Employers Institute, both for the third consecutive year. For more information, please visit http://ir.yumchina.com.\nAbout Lavazza Group\nEstablished in 1895 in Turin by Luigi Lavazza, the Lavazza Group is a world-renowned Italian manufacturer of coffee products. It has been owned by the Lavazza family for four generations. Among the world's most important roasters, Lavazza currently operates in more than 140 countries through subsidiaries and distributors, with 70% of revenues coming from markets outside of Italy. Lavazza employs a total of about 4,200 people with a turnover of € 2.085 billion in 2020. 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