Brands want foothold in one of the world’s largest exporters of coffee.
Colombia is one of the world’s top producers and exporters of coffee, but two international brands are nevertheless aiming to gain a foothold in the key Latin American market.
Within a few weeks of each other, two of the biggest names in the business – Starbucks and Nespresso – set up shop in the country of 47 million.
Attracted by Colombia’s strong economic growth – 6.4% in the first quarter of 2014 – the two companies hope to find a new market for customers eager to spend a little extra on a grande latte.
“The economic momentum, the increase in both the number of Colombians travelling abroad and foreigners coming to Colombia – all that means that Colombia is more exposed than ever to globally-known brands,” said Monica Acosta, local marketing executive for Nestle, which owns Nespresso.