Illy Wants to be the Gucci of Coffee

by Nicole Weston (RSS feed)
Dec 26th 2006 at 6:01PM

Francesco Illy, the founder of Illycaffè, invented espresso in the 1930s and the company, now run by Illy's grandson, is looking to make a new name for itself in the global cafe marketplace. The company wants more recognition at the consumer level outside of Italy. It is expanding its Espressamente stores outside of Italy. The cafes are small, but designed by "leading Italian architects" and have cups and saucers that showcase contemporary artists, as well.

There are currently around 140 Espressamentes and Illy hopes to have 500 more within the next five years. The company expects that the consumers' desire for authenticity and quality will support the $4.50 price tag attached to a cappuccino, in the same way that high prices are commanded by luxury fashion brands, like Gucci, Prada and Armani.

Tags: cafe, coffee, espresso, illy, luxury