Italian coffee roaster Illycaffe SpA is partnering with e-commerce firm Hangzhou Onechance Tech Corp. to grow its business in China, daily newspaper la Repubblica reported on Sunday.
“Thanks to this partnership we will strengthen our presence in the home and online channels,” Illycaffe Chief Executive Officer Cristina Scocchia told the daily. Illycaffe’s goal is to triple its turnover in China by 2026, she said.
Illycaffe is on track to meet its goal of having an initial public offering by 2026, Scocchia said in June. Ahead of an IPO, Illycaffe plans to increase its presence in the US as well as China.
