Coca‑Cola HBC Cyprus is to launch Costa Coffee ready-to-drink on the island just after Easter, informed sources told Insider.
Ready to drink coffee is a highly competitive market in Cyprus but with significant room for expansion, a source also said but refused to clarify the exact products to be launched.
The acquisition of Costa Coffee by the Coca Cola Co took place in 2019. Coca‑Cola HBC is a strategic partner of The Coca‑Cola Company with a broad geographic footprint with operations in 28 countries, including Cyprus.
It had controlled Coca Cola Cyprus’ initial owners, Lanitis Bros, for years and recently renamed it to Coca-Cola HBC Cyprus.
Cyprus’ main players in the market of ready-to-drink coffee today are: Mr Brown’s Ready-Made Coffee of L. Zotiades Trading & Consulting, Laiko Cosmos Trading’s Pokka Coffee, Starbucks products distributed by IPH Foodstuff Suppliers Ltd, El Café ready to drink coffee, also distributed by Laiko Cosmos Trading and Emmi coffee distributed by Sure Food Ltd.
The Greek group which recently presented its financial results, noted that “we are well ahead with preparations for the launch of Costa Coffee ready-to-drink in the second quarter of this year. We plan to market the product in a variety of types, starting with at least 10 of our markets in 2020 and eventually covering all of our markets within the next three years.”
The report also said: “The Cypriot market is obviously one of the 10 markets in which these products will be launched first.”
In 2019, the Group recorded sales of €2,517.6 million in developed markets in which it operates, compared to €2,470.1 million in 2018. In Cyprus, sales volume decreased by -1% in 2019 compared to the previous year.
The report also said that, for 2020, the company expects continued volume of growth in developed and emerging markets, along with a slightly better performance – something that also applies to Cyprus.
By Marios Roussos
Read more:
https://in-cyprus.com/eu-commission-approves-acquisition-of-costa-coffee-by-coca-cola/
