JDE Peet’s says it wants to increase Chinese coffee consumption after reporting encouraging sales and a positive consumer response to its retail coffee products and Peet’s Coffee stores
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JDE Peet’s opened 40 Peet’s Coffee outlets during the first half of 2021 in China | Photo credit: JDE Peet’s
JDE Peet’s has reaffirmed its ambitions to foster increased coffee consumption in China.
The JAB Holdings-controlled company said it had seen encouraging growth and positive consumer response to its Maxwell House and Moccona instant cold brew ranges in China, since introducing them to the East Asian country in June 2021.
In a press relase, JDE Peet's said on-the-go coffee consumption had fuelled its local coffee segment growth in China, as well as outlet growth for Peet's Coffee in the country.
The company opened 40 Peet’s Coffee outlets in China during the first half of 2021, building on the 23 stores it operated in 2020.
“The level of consumer interest in the new Maxwell House and Moccona range reaffirms our strong brand portfolio and demonstrates our continued commitment to meeting the evolving needs of Chinese coffee consumers” said Frank Wang, General Manager, JDE Greater China.
“JDE Peet’s is committed to supporting the growing trend of Chinese coffee consumption and we are working closely with our strategic partner Hillhouse Capital to continue to develop and expand our range of innovative products,” Wang added.
JDE Peet’s promotes that it sold approximately 4,500 cups of coffee or tea every second in 2020, generating total sales of €6.7bn ($7.8bn). The company says it is active in more than 100 developing coffee markets, where it is attempting to scale its portfolio of 50 coffee brands including L’OR, Peet’s, Jacobs, Tassimo and Douwe Egberts.