Latest news with #Illy
Telegraph
08-04-2025
- Telegraph
This blissfully uncrowded region is Italy's best-kept secret
Is it down to its relative isolation from most of Italy, or its mouthful of a name? Whatever the reason, Friuli-Venezia Giulia has long slid under the radar of Italy's famously prolific tourism, remaining a secret reprieve for chic Italians, among whom it is known simply as 'Friuli'. One of Italy's smallest regions, you can drive from its northern top to its southern coast (or, indeed, between its eastern and western edges) in just two hours, allowing for a morning skiing in the snowy Friulian Dolomites, and an afternoon basking on the white-sand beaches of the Adriatic. On your journey between the two, you'll pass through some of the best white wine vineyards in the country, and a region defined by a complex history which has resulted in a unique blend of Slavic, German and Italian cultures. In the heartland of the region lies the true 'Friuli', an ancient culture with its own language (said to be closer to French than Italian), while further east – towards the Slovenian border – the regional capital city of Trieste, a former stalwart of the Austro-Hungarian Empire, offers distinct aristocratic glamour. Add to this a swath of sumptuous royal palaces – the result of more than 500 years of Austrian rule – and scattering of medieval towns, each replete with castles and a localised cuisine that ranges from Alpine cheese to seafood from the lagoon, and you have a very nearly perfect spot for a serene sojourn. Start your exploration in Trieste – a seaside city which, despite its many draws, nevertheless remains far less visited, even by Italians, than the likes of similarly sized Perugia, Ravenna and Venice. It's famous for its old-world glamour, and nowhere is this more evident than at Miramare Castle, a 19th-century Habsburg residence set on a sprawling estate of manicured gardens. The cliffside castle is also a delightful spot from which to watch the annual Barcolana sailing event, when the white of countless sails almost obscures the deep blue of the Adriatic. But among Italians, it's coffee, not boats, that Trieste is best known for. The home of Illy, one of the country's most highly regarded coffee brands, Trieste has a distinct cafe culture defined by authentic 19th-century parlours – of which Caffè degli Specchi is the most iconic, synonymous with the Piazza dell'Unità, the most photographed spot in Trieste. At all hours of the day, the outdoor tables are filled with locals sipping caffe nero (espresso) or capo in b (cappuccino), chairs turned towards the sea. Though geographically isolated in the furthest nook of eastern Italy, Trieste is tied to the mainland via the scenic Costiera Triestina coastal road, a route which hugs the cliffs for seven miles, via rocky outcrops and Blue Flag coves (like serene white-pebble Portopiccolo), all the way to Sistiana Bay. This is only a fraction of Friuli's 80 miles of shoreline, however, much of which is also dotted by sprawling lagoons and tiny beach towns like ever-popular Grado, often known as 'Little Venice'. Throughout the lagoon are wild, uninhabited islands accessible by boat or canoe – including remote places like Isola della Conchiglie ('The Island of Shells') – perfect for those happy to trade the services of a beach club for secluded sand and pristine nature. Serving as a buffer between the lagoon and the sea, Isola della Conchiglie offers views across the water to the quaint A-frame fishing huts (casoni) on the waters of the River Stella Mouth Reserve. Paddle over for a closer look at the bird-rich marshes and a taste of fresh fried 'frittolin' fish. This area is the southernmost tip of the central province of Udine, the heartland of Friuli. Follow your nose inland, where the scenery changes completely in less than an hour. Far from fish fritters and sea salt, this is a land of prosciutto and fondue. Friulian staples blend Austro-Hungarian and Venetian influences in a hearty mountain cuisine supplemented by Slavic staples. Cool weather calls for rich and warming polenta – infused with the local aged montasio cheese, made by monks in the nearby mountains since the 13th century, and topped with meaty stews like jota, and the ultimate comfort food is frico, the Friulian version of a tartiflette. But the unofficial culinary capital is perhaps best known for San Daniele prosciutto, produced in the eponymous village nearby. These artisanal ingredients and recipes are celebrated at an annual gastronomic festival, Sapori di Pro Loco, held at an extravagant Venetian palace in Udine's bucolic outskirts. But the region's food has nothing on its wines. The grape producing area of Il Collio is sandwiched between the Adriatic coast and the Julian Alps, awash with green and golden rolling hills that could easily be mistaken for those of central Tuscany. The microclimate formed by the mountains and the sea creates versatile and crisp white wines, like Friulano, that pair as well with aromatic seafood dishes as they do rich and creamy classics like frico. Endless paths for walking, biking and horse riding connect many of the vineyards and family-run wineries, most of which welcome visitors with open arms. Here, all roads lead to Gorizia, the heart of Friuli's wine region, a red-roofed village presided over by a medieval fortress. Like the Collio region, Gorizia spills across the border into Slovenia, once the site of Europe's last Iron Curtain border wall. When Slovenia joined the EU in 2004, the wall finally came down, and the city was returned to its pre-war form. This year – in conjunction with the Slovenian side, Nova Gorica – it made history, becoming the first-ever transnational European Capital of Culture. Not to be outdone, the medieval-modern city of Pordenone – on the opposite side of Friuli – is also making headlines, as the latest town to achieve Italy's own country-wide 'Capital of Culture' designation. Where Gorizia has complex history and culture, Pordenone has art, spanning from brightly coloured Renaissance frescoes (earning its nickname, The Painted City), to a vibrant modern art and culture scene which includes an international silent film festival and a Museum of Comic Art. In nearby Spilimbergo, meanwhile, art students at the Scuola Mosaicisti del Friuli carry forward Roman and Byzantine mosaic traditions while developing contemporary techniques of their own. For a three-euro donation, visitors can step inside and marvel at the endless carpet of their work – and those who find the experience particularly engrossing can even sign up for week-long mosaic courses. You might, of course, prefer to return to the coast, and find yourself a pleasant sunny spot in which to while away the afternoon beside the lagoon, crisp white wine in hand. But then, this is the beauty of small but idyllic Friuli: there are no crowds and no hurry – why not do both? Essentials Trieste's Grand Hotel Duchi d'Aosta has double rooms from £380 per night. British Airways flies from London to Venice from £180 return; from there, it's roughly an hour and a half's drive to Trieste.
Yahoo
01-04-2025
- Business
- Yahoo
Italian coffee maker Illy warns tariffs will push up US prices
By Elisa Anzolin MILAN (Reuters) - Italian premium coffee maker Illycaffe' will be forced to raise prices in response to any tariffs imposed this week by U.S. President Donald Trump's administration, its CEO Cristina Scocchia said on Tuesday. Scocchia added that Illy would also look in the longer term at building a plant in the U.S. if it does get caught up in Trump's "Liberation Day" plan for tariffs designed to target countries believed to have disadvantaged American goods and workers. "Duties will be passed on to the final price... we, as I guess other players, are evaluating in what percentage," she said in a telephone interview. The industry's margins are already under pressure due to raw bean price increases. Illy kept prices steady last year despite a sharp increase in arabica bean prices but in 2025 it has increased prices by an average of 4% globally. The CEO added that some of the products sold in the U.S. could possibly be produced locally but the rest of the production would remain in Italy, where she confirmed a 120 million euro investment to double production capacity. "This is a feasibility study we are doing at the moment.. but building a roasting plant (in the U.S.) and an assembly line takes time," Scocchia told Reuters. The U.S. is the second largest market for Illy, contributing one fifth of its revenues. Founded in the northeastern Italian city of Trieste in 1933, the company is majority controlled by the Illy family, who sold a 20% stake to U.S. private equity firm Rhone Capital in 2021. Scocchia said a decision about a stock market listing was up to shareholders but that it did not seem an opportune moment. "In this time of perfect storm between the skyrocketing cost of green coffee, the threats of tariffs, the volatile macroeconomic and geopolitical environment.. this does not seem to be the time to be thinking about a listing," she said. Revenues rose 6% last year to 630 million euros, while its core profit was up 19% to 110 million euros, despite a 40% increase in green coffee beans, the group said. Sign in to access your portfolio
Reuters
01-04-2025
- Business
- Reuters
Italian coffee maker Illy warns tariffs will push up US prices
MILAN, April 1 (Reuters) - Italian premium coffee maker Illycaffe' will be forced to raise prices in response to any tariffs imposed this week by U.S. President Donald Trump's administration, its CEO Cristina Scocchia said on Tuesday. Scocchia added that Illy would also look in the longer term at building a plant in the U.S. if it does get caught up in Trump's "Liberation Day" plan for tariffs designed to target countries believed to have disadvantaged American goods and workers. "Duties will be passed on to the final price... we, as I guess other players, are evaluating in what percentage," she said in a telephone interview. The industry's margins are already under pressure due to raw bean price increases. Illy kept prices steady last year despite a sharp increase in arabica bean prices but in 2025 it has increased prices by an average of 4% globally. The CEO added that some of the products sold in the U.S. could possibly be produced locally but the rest of the production would remain in Italy, where she confirmed a 120 million euro investment to double production capacity. "This is a feasibility study we are doing at the moment.. but building a roasting plant (in the U.S.) and an assembly line takes time," Scocchia told Reuters. The U.S. is the second largest market for Illy, contributing one fifth of its revenues. Founded in the northeastern Italian city of Trieste in 1933, the company is majority controlled by the Illy family, who sold a 20% stake to U.S. private equity firm Rhone Capital in 2021. Scocchia said a decision about a stock market listing was up to shareholders but that it did not seem an opportune moment. "In this time of perfect storm between the skyrocketing cost of green coffee, the threats of tariffs, the volatile macroeconomic and geopolitical environment.. this does not seem to be the time to be thinking about a listing," she said. Revenues rose 6% last year to 630 million euros, while its core profit was up 19% to 110 million euros, despite a 40% increase in green coffee beans, the group said.
Yahoo
13-02-2025
- Business
- Yahoo
Coffee is in a 'perfect price storm' — and it's finally starting to hit your wallet
Coffee futures (KC=F) have ripped more than 30% year to date, hovering near all-time high levels. The surge is starting to pass through to consumer wallets. The Consumer Price Index report released Wednesday showed that the prices consumers paid for roasted coffee rose 2.5% in January over the previous year. Meanwhile, instant coffee jumped a whopping 7.1%. Read more: From $5 eggs to insurance premiums, here's where prices are rising One global buyer and seller of coffee told Yahoo Finance that while it has yet to raise prices, it has no choice but to consider hiking them in the medium term. "Coffee is in a perfect price storm," Andrea Illy, chairman of illycaffè, said in an interview Wednesday. Illy points to climate issues at top world producers and exporters, including Vietnam and Brazil, where poor weather conditions impacted harvest. Brazil had its hottest year on record in 2024, with a record number of forest fires impacting its arabica coffee and sending prices higher. The US imports the second-highest amount of coffee per year behind the European Union, with top supply coming from Brazil, Colombia, and Vietnam. 'There is no alternative," Illy said of price increases. Of the surge in coffee futures, he added, "We don't know how long it will last." Other companies are considering price hikes as well. "If you look at 2025, we expect coffee inflation to continue to ramp. We will look to offset with pricing that is going into market early in the year," Sudhanshu Priyadarshi, CFO of Keurig Dr Pepper (KDP), said during the company's most recent earnings call in October. Not all commercial coffee buyers are seeing a big impact, as it's common practice for big retailers to purchase large quantities at least a year in advance and lock in prices with futures contracts. "Given our overall practices and hedging strategy, our year-over-year coffee price impact was minimal in Q1," Starbucks (SBUX) CFO Rachel Ruggeri said last month on the company's post-earnings conference call. Part of the reason instant coffee saw a big pop in the CPI report is that the already-low price points make it easier for companies to raise them without giving consumers major sticker shock. "Generally, instant coffee is a lot cheaper, and [retailers are] able to bump up that price and still be in the 'lot cheaper' category," said Shonali Paul, founder of Paul John Caffeine, a Florida-based coffee roaster. Instant coffee uses robusta, a lower-tier bean compared to arabica, the kind used for restaurant chain coffee. Climate droughts in Vietnam last year impacted robusta production, sending prices 60% higher over the past year. Rising shipping and labor costs have also weighed on the instant coffee market. "With instant coffee, your margins are just so thin, it's why you see them take a hit on some of those other logistical costs so much sooner," Heather Perry, CEO of Klatch Coffee, told Yahoo Finance. Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Sign in to access your portfolio
Yahoo
13-02-2025
- Business
- Yahoo
Coffee is in a 'perfect price storm' — and it's finally starting to hit your wallet
Coffee futures (KC=F) have ripped more than 30% year to date, hovering near all-time high levels. The surge is starting to pass through to consumer wallets. The Consumer Price Index report released Wednesday showed that the prices consumers paid for roasted coffee rose 2.5% in January over the previous year. Meanwhile, instant coffee jumped a whopping 7.1%. Read more: From $5 eggs to insurance premiums, here's where prices are rising One global buyer and seller of coffee told Yahoo Finance that while it has yet to raise prices, it has no choice but to consider hiking them in the medium term. "Coffee is in a perfect price storm," Andrea Illy, chairman of illycaffè, said in an interview Wednesday. Illy points to climate issues at top world producers and exporters, including Vietnam and Brazil, where poor weather conditions impacted harvest. Brazil had its hottest year on record in 2024, with a record number of forest fires impacting its arabica coffee and sending prices higher. The US imports the second-highest amount of coffee per year behind the European Union, with top supply coming from Brazil, Colombia, and Vietnam. 'There is no alternative," Illy said of price increases. Of the surge in coffee futures, he added, "We don't know how long it will last." Other companies are considering price hikes as well. "If you look at 2025, we expect coffee inflation to continue to ramp. We will look to offset with pricing that is going into market early in the year," Sudhanshu Priyadarshi, CFO of Keurig Dr Pepper (KDP), said during the company's most recent earnings call in October. Not all commercial coffee buyers are seeing a big impact, as it's common practice for big retailers to purchase large quantities at least a year in advance and lock in prices with futures contracts. "Given our overall practices and hedging strategy, our year-over-year coffee price impact was minimal in Q1," Starbucks (SBUX) CFO Rachel Ruggeri said last month on the company's post-earnings conference call. Part of the reason instant coffee saw a big pop in the CPI report is that the already-low price points make it easier for companies to raise them without giving consumers major sticker shock. "Generally, instant coffee is a lot cheaper, and [retailers are] able to bump up that price and still be in the 'lot cheaper' category," said Shonali Paul, founder of Paul John Caffeine, a Florida-based coffee roaster. Instant coffee uses robusta, a lower-tier bean compared to arabica, the kind used for restaurant chain coffee. Climate droughts in Vietnam last year impacted robusta production, sending prices 60% higher over the past year. Rising shipping and labor costs have also weighed on the instant coffee market. "With instant coffee, your margins are just so thin, it's why you see them take a hit on some of those other logistical costs so much sooner," Heather Perry, CEO of Klatch Coffee, told Yahoo Finance. Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Sign in to access your portfolio
