Market: Campari wants to open bars to whet aperitif cravings


by Francesca Landini

MILAN (Reuters) – Campari plans to open several bars in Europe and beyond, to tap into the success of its spirits and the Italian aperitif craze, its chief executive said.

Last week, the Italian group reported a 29% increase in like-for-like sales in the first three months of the year, thanks to the explosion in demand for its Aperol and Campari bitters during the reopening of bars and restaurants in Europe.

On Tuesday, Campari also announced the signing of an agreement to acquire the French brand of bitter aperitifs Picon and the related assets of Diageo for around 119 million euros.

The group’s drinks have sold well for at-home consumption during the COVID-19 pandemic, but serving a well-made cocktail remains one of the best ways to win new customers, says Bob Kunze-Concewitz, Campari’s chief executive. .

“In the next five years, we would like to have Camparino (bars) in London, New York, Singapore,” he told reporters, adding that he expects 50 to 100 terraces to open worldwide.

Bob Kunze-Concewitz did not specify the cost of the investment.

The group bought the Camparino bar in Milan’s central square for 5.6 million euros in 2018 and spent a further 6.5 million euros to eliminate the outlet’s accumulated debt and modernize it.

In 2020, Campari paid 4.2 million euros to secure a space in Venice where, the following year, it opened Terrazza (Terrace) Aperol.

Although glass is the leading cause of cost inflation, the group does not plan to turn to other packaging.

“We don’t think about replacing glass. Firstly because glass is the most durable, secondly because it has no impact on the quality of the liquid and the taste, and finally because so many magic would be lost with the tetra pak or the plastic,” Bob Kunze-Concewitz said.

(Report Francesca Landini, French version Augustin Turpin, edited by Sophie Louet)

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