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Italian coffee brand Lavazza on Tuesday announced exit from coffee shop business in India by selling its Barista brand to Carnation Hospitality.
In This Pic : Lavazza sells Barista
Pic Courtesy : BCCL - Non Copyright
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The company, however, will continue to supply coffee to Barista through a long-term supply agreement.
In This Pic : Lavazza sells Barista
Pic Courtesy : BCCL - Non Copyright
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Lavazza in a statement said it has decided to lay greater focus on its core business, which is coffee.
In This Pic : Lavazza sells Barista
Pic Courtesy : BCCL - Non Copyright
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Commenting on the
announcement, Lavazza CEO Antonio Baravalle said: "The decision to move
out of Barista has been taken accordingly with the global business
guidelines of the group to no longer manage directly the coffee shop
business."
Pic Courtesy : BCCL - Non Copyright
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Talking about the Indian
market, Baravalle said: "India continues to remain an extremely
important market to Lavazza's international operations and it is
strategic to the brand's overall growth initiatives across the world."
In This Pic : Lavazza sells Barista
Pic Courtesy : BCCL - Non Copyright
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