Lavazza Group, one of the world’s biggest coffee companies, is sacrificing profitability to defend market share amid a rollercoaster ride in bean prices that its chairman sees continuing.
The Italian company’s sales have grown over the last year, but higher costs have eaten into its margins. Lavazza is expecting a double-digit fall in earnings this year.
“We redid our budget six times over the last year,” Chairman Giuseppe Lavazza said.
