Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
CLASS

Segafredo Zanetti’s coffee to conquer Mongolia's capital city

May 13, 2022


Abstract : It opened its sixth coffee bar in two years in the Asian country between Russia and China —whose market the company is also pressing on. Last year it closed with about 1.2 billion euros in sales and acquired new quality production in Ecuador

MILAN, May 12 (Class Editori) — Segafredo Zanetti’s Italian coffee is rapidly conquering Mongolia, starting with its capital city Ulaanbaatar, where a few days ago the Veneto-based Group managed by Massimo Zanetti opened its sixth coffee bar in two years.

Segafredo's new coffee bar is located inside the prestigious Nomin Mall, in the bustling Khan Uul district, which is considered the best residential area of the city, with about 1.5 million inhabitants, home to the new city hall and many luxury stores.

The cafè is at the mall’s main entrance. The first coffee bar in Ulanbaatar had been opened in March 2020, a project by the Veneto-based coffee Group in cooperation with GT Beans, a local partner, at the Nomin hypermarket within one of the city's newest residential areas.

Ulaanbaatar is Mongolia's main industrial hub and has undergone rapid urbanization and population growth in recent decades, becoming a very dynamic center.

The café has become a meeting point, especially for many young people, who are increasingly interested in Italian culture. The most popular drinks are espresso coffee, latte, cappuccino, as well as iced tea and granita.

Three other locations had been opened last fall: one inside the Duty-Free area of the Nubia International Airport, one inside the River Town Mall —an elegant shopping mall in the heart of a renowned district of the capital— and one inside the State Department Store —a historic mall considered a landmark of the city and a tourist attraction where to find quality local products, including cashmere garments and carpets from Erdenet.

The Veneto-based Group is pressing on China and East Asian countries, where it closed the first quarter of last year with a 17% increase in sales volumes, the largest in the world, but with a slight decline (-4%) in values, totalling 22 million euros, 10% of quarterly sales, ahead of 2019.

According to financial sources, it allegedly ended last year with a turnover of around 1.2 billion euros, nearly 50% higher than 2020, qualifying itself as one of the largest global producers in the world of coffee. During the year, it conducted a series of new coffee shop openings around the world and in April 2021 strengthened its presence in South America where it acquired Ecuador-based Hoja Verde Gourmet HOVGO, whose production plant, located in Cayambe, 70 kilometers from Quito, produces coffee and chocolate from selected raw materials of the highest quality, guaranteeing controls on the entire supply chain.

(Source:Class Editori)

Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.

Scan the QR code and push it to your mobile phone

Keyword: Segafredo Zanetti

Reading:

Segafredo Robocup to open the first h24 café-robot in Shenzhen

Costa and MSC to climb the market boom top in Asia

Vietnam, many opportunities and some risks for companies

Cruise giant Carnival Corp bullish on Chinese market

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial