COMPANY NEWS
Amsterdam, 1 November 2021
JDE Peet’s (EURONEXT: JDEP), the world’s leading pure-play coffee and tea company by revenue, today provided more information on the recent successful entry of Maxwell House and Moccona into the growing Cold Brew Pure Instant segment in China as part of the company’s reignited global innovation agenda.
The on-trend Cold Brew Pure Instant coffee innovations launched in June 2021, have seen very encouraging growth and consumer responses, in the highly competitive Chinese market. The Maxwell House range offers consumers a Cold Brew Pure Instant coffee in the form of a 1.8g shot, while the Moccona range provides a premium and stronger alternative in the form of a 2.8g Cold Brew Pure Instant coffee shot.
The rise of the Instant Specialty segment supports the strong growth and premiumisation of the coffee category in China, alongside traditional tea drinking rituals. Through these types of innovations JDE Peet’s will continue building its credentials while blurring the lines between the traditional Single Serve and Instant coffee categories and creating exciting new coffee experiences for the next generation of coffee consumers.
To date, the new range has received consistently positive feedback, highlighting a consumer preference for the product’s stronger taste and functional packaging. JDE Peet’s will continue to learn and build on the success of this range with the goal of offering consumers new and exciting products in the future.
“JDE Peet’s is committed to supporting the growing trend of Chinese coffee consumption and we are working closely with our strategic partner Hillhouse Capital to continue to develop and expand our range of innovative products,” said Frank Wang, General Manager, JDE Greater China. “The level of consumer interest in the new Maxwell House and Moccona range reaffirms our strong brand portfolio and demonstrates our continued commitment to meeting the evolving needs of Chinese coffee consumers by accelerating our premiumisation agenda and continuing to blur the lines between traditional coffee categories in Asia.”
This launch demonstrates the company’s accelerating ambitions for the Chinese market where “on-the-go” coffee consumption continues to fuel local coffee segment growth. In 2020, JDE Peet’s doubled its network of coffee stores in China, and has continued this trend in 2021, with an additional 40 Peet’s coffee stores opening during the first half of 2021.
Enquiries
Media
Michael Orr
Media@JDEPeets.com
+31 20 558 1600
Investors & Analysts
Robin Jansen
IR@JDEPeets.com
+31 6 159 44 569
About JDE Peet’s
JDE Peet’s is the world’s leading pure-play coffee and tea company by revenue and served approximately 4,500 cups of coffee or tea every second in 2020. JDE Peet’s unleashes the possibilities of coffee and tea in more than 100 developed and emerging markets through a portfolio of over 50 brands that collectively cover the entire category landscape led by household names such as L’OR, Peet’s, Jacobs, Senseo, Tassimo, Douwe Egberts, OldTown, Super, Pickwick and Moccona. In 2020, JDE Peet’s generated total sales of EUR 6.7 billion and employed a global workforce of more than 19,000 employees. Read more about our journey towards a coffee and tea for every cup at www.JDEPeets.com.
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