Starting from October 1st, Mr. Guerra is the new executive chairman of Eataly, the Italian food emporium founded 10 years ago by Oscar Farinetti. The aim of Andrea Guerra is to double Eataly’s revenues within the next couple of years, ready for a stock market listing in Milan. “We consumers take as given the functionality of products, and buy on emotions” he said- “Oscar Farinetti was one of the few who understood that the world today moves on emotions”.
Eataly had 350 million euros in revenues last year, of which more than10 million euros came from its flagship in US stores. It has just opened a new store in Seoul and will open in Munich before Christmas. A second New York store is due to open near Ground Zero next spring, followed by Los Angeles and Boston. Mr. Farinetti has said that, at this point, the group will be ready for an Ipo. “It’s an important milestone” says Mr. Guerra, who is taking a 5 per cent stake in the company. “Eataly represents the new wave of Italy, we can make new things, we can make new businesses, we can do it “says Mr Guerra- “Today there is a generation of people who have success and, as the Americans say, they want “to give back”. And finally they see opportunities”.