- Gazeta Mercantil News -
The recipe for i
llycaffè\'s blend has been kept under lock and key. Now the secret is in the hands of chairman Andrea Illy, the third generation of the family in charge of the company. i
llycaffè posted a net profit of 7.1 million and a financial revenue of 270 million in 2007, and Andrea estimates a 3% rise in 2008 earnings - to be published next month. This blend receives an extra dose of sustainability in the beans\' country of origin. illy demands from its farmers that in addition to the coffee plant, 20% of the planted area must be covered with native vegetation from the region. Meanwhile, the production process does not require great use of pesticides and the final product is packed in Italy with recycled material.The recipe for
Illycaffè's blend has been kept under lock and key. Now the secret is in the hands of chairman Andrea Illy, the third generation of the family in charge of the company.
Illycaffè posted a net profit of 7.1 million and a financial revenue of 270 million in 2007, and Andrea estimates a 3% rise in 2008 earnings - to be published next month.
The chairman's optimism is based on the 100% arabica beans harvested in 14 countries in South and Central America, India and Africa. The productive chain links of each one of Illy's suppliers are closely monitored by the company's agronomists and directors. 'The good quality comes from the plant, all we do is optimize it through industrial processes', says Andrea. According to him, the green beans are shipped to Trieste, in Italy, where they are roasted after blending.
This blend receives an extra dose of sustainability in the beans' country of origin. Illy demands from its farmers that in addition to the coffee plant, 20% of the planted area must be covered with native vegetation from the region. Meanwhile, the production process does not require great use of pesticides and the final product is packed in Italy with recycled material.
The foundation of these sustainability practices was laid at the Illy University, which was founded in 2000 and from which last year alone over 11,000 experts graduated straight into to the global coffee market. This is also where the Ernesto Illy Espresso Coffee Quality Award was created eight years ago.
The economic advantages of Illy's sustainable practices can be seen in the bigger profit margins offered both to its suppliers and distributors. 'If a producer manages to achieve the expected level of quality, we pay a remuneration price that is an average 30% higher than the market's', says the company's chairman.