Bialetti sells: cult espresso maker now in Chinese hands!
Bialetti sells: cult espresso maker now in Chinese hands!
Coccaglio, Italien - The Italian coffee chef manufacturer Bialetti has a new owner. In a surprising turn, the historical brand was sold to the Chinese entrepreneur Stephen Cheng from Hong Kong. The purchase price amounts to 53 million euros, and Cheng has taken control of almost 79 percent of the Bialetti shares, reports OE24 .
Bialetti, known for the iconic “Moka Express”, was founded in 1919 by Alfonso Bialetti in Crusinalo, a small village near Omegna. The company is famous for its octagonal coffee cooker, who gained global fame in 1933 by inventing the "Moka Express". This innovative coffee machine was named after the city of Mokka in Yemen, one of the oldest coffee regions in the world. The "Moka Express" has developed to a cult object to this day, with several hundred million units sold, such as "https://www.bild.de/geld/bialetti-fellt-chinesischer-investor-uebernmnt-kult-67F7FC382A0374626"> Bild reported.
historical roots and inheritance
The story of Bialetti is closely linked to the Bialetti family. Renato Bialetti, the founder's son, took over the company in 1949 and made it successful internationally. Iconian advertising figures such as the famous male with the mustache, created by comic artists Paul Campani, shaped the brand from 1958. Renato Bialetti himself was buried in a "Moka Kanne" in 2016, as he had set it in the will.
Despite the rich inheritance, Bialetti faces major challenges. The company has struggled with considerable financial problems in recent years, including debts of over 100 million euros and tax law difficulties in Italy. The competition through modern capsule systems and fully automatic machines has further increased sales pressure, whereupon the company had to adjust its structure.
Future of Bialetti
The new owner Cheng, who has gathered a consortium to acquire the majority shares through the investment fund Nuo Capital, has assured that it is core to maintain the Bialetti brand. Quantity production should continue to take place in Italy, with the company's headquarters in Coccaglio staying near Brescia. In addition, production is also planned in Romania and Turkey in order to better manage the economic challenges.
While the takeover by Cheng is considered a new glimmer of hope for many, it remains to be seen how the traditional company continues. Experts are excited to see whether Cheng succeeds in preserving Bialetti's legacy and leading the company to a successful future. The cult brand is at a crucial point where tradition and modern entrepreneurial strategies meet.
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