The family business Illy, one of the most renowned coffee brands in Italy, wants to diversify into tea, chocolate and wine!
Ensuring the continuity of the family business by accelerating its diversification into tea, chocolate and wine is the ambition of Riccardo Illy, grandson of the founder of Illy. In charge of diversifying the Italian company run by his brother Andrea, he wants to reduce the family’s reliance on the intensely competitive coffee business. To do this, the company seeks the right partner to carry out its external growth operations. As the inventor of the first high-pressure espresso machine in 1935, Illycaffè today specializes in importing, roasting and selling coffee and has become one of the most important companies in its sector. While its competitors like Nespresso seek to increase their market share, Illy takes the path of diversification: a different strategy that, as Riccardo and Andrea Illy hope, will ensure the sustainability of this family business founded in 1933.