Lavazza joins forces with KFC and Pizza Hut in China [CNNMoney.com]
Starbucks Corporation (SBUX)
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Source: CNNMoney.com
Lavazza joins forces with KFC and Pizza Hut in China Hong Kong (CNN Business) Starbucks ( SBUX ) is about to face even stiffer competition in China. Italian espresso maker Lavazza is expanding its reach in the country through a new joint venture with Yum China ( YUMC ) , the local owner of KFC and Pizza Hut. The partnership was marked by the opening of a Lavazza flagship store in Shanghai, the first of several to be built in Asia. The new outlet is located in the city's trendy Jing'an neighborhood, just minutes away from Starbucks' famous Reserve Roastery, a 30,000 square-foot emporium that serves as a hotspot for tourists . To attract customers, Lavazza is emphasizing its premium brand and Italian roots. The company said Wednesday it had commissioned a Michelin-starred chef to create the menu for the cafe, which will serve focaccia bread, cannolo pastries and other treats created exclusively for the Chinese market. Lavazza's new flagship store
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SBUX
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