Friday, October 19, 2007
from PSFK.COM:
Coke Partners With More Innovators: Illy
Following their work with Nestle which developed the Envigacalorie-burning drink, Coca-Cola have signed a joint venture with the Illy coffee and cafe group to develop some new products. Basically Illy comes up the product ideas, Coke pumps their distribution system with them. The press release says:
The Coca-Cola Company and illycaffè SpA today announced they have signed a memorandum of understanding to form a global joint venture focused on the premium ready-to-drink (RTD) coffee segment leveraging illy’s world class expertise in the art of the espresso to capture opportunities in this high growth, profitable beverage category with new brands and products.
The RTD coffee category globally is valued at just under $10 billion and has experienced several years of growth that is expected to continue. Globally (excluding Japan), the ready-to-drink coffee category has grown at an average rate of 10.1% over the past five years.