Brands
Lavazza exits coffee shop business
MUMBAI: In an effort to realign and restructure its businesses globally, Turin-based, Lavazza, has announced its decision to exit from the coffee shop business in India.
Lavazza has decided to lay greater focus on its core business, which is Coffee.
Lavazza, which bought the café brand Barista in 2007, has sold the coffee shop chain with over 190 cafés to Carnation Hospitality, a company owned by Rollatainers. Coffee shops will keep providing Lavazza Coffee thanks to a long-term supply agreement between Fresh & Honest Café (FHCL) and Barista.
Lavazza CEO Antonio Baravalle said, “Changes in the market required us to relook at our commercial penetration methods and as a result, Lavazza has decided to concentrate on coffee in the region. In fact, India continues to remain an extremely important market to Lavazza’s international operations and it is strategic to the brand’s overall growth initiatives across the world. Furthermore, we will continue to develop our presence in the country through the AFH business and through the investments in the Sri City plant, our first and only production facility outside of Italy.”
In the deal, Lavazza has been assisted by Rothschild, as financial advisor, and Desai & Diwanji, as legal advisor.
Lavazza, established in Turin in 1895, has been owned by the family of the same name for four generations. The world’s seventh ranking coffee roaster, Lavazza is the retail market leader in Italy with a market share by value of over 47 per cent as per Nielsen and sales of EUR 1,340 million as of 31 December 2013. The company has five production sites, four in Italy and one abroad, and operates through associated companies and distributors in more than 90 countries. Lavazza exports 46 per cent of its production today.
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
