“Following a better-than-anticipated performance in 2022, we've decided to spend $120 million in the expansion of our coffee facility”. Cristina Scocchia, the chief executive officer of illycaffè, remarked this while justifying the company's decision to invest in manufacturing in Italy despite the rise in expenses. "In December 2022, the firm adopted a five-year strategy investing 270 million in investments for omnichannel, manufacturing, and distribution by 2026," Illy told La Repubblica. “We have studied the option to diversify roasting and manufacturing abroad, but we have chosen that we are passionately Italian and want to continue to invest in Trieste and its people, who have made Illycaffè famous across the globe." Illy's sales increased by 14% to 568 million, with growth in all countries and distribution channels, including single-brand shops, pubs and restaurants, and large-scale distribution. In the United States, which is a key market and the second most important market after Italy, sales increased by 27%, in China by 15%, in Europe between 18 and 20% depending on the nation, and in Italy by 8%, therefore consolidating its market dominance.
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