Lead from the Future by Mark W. Johnson & Mark W. Johnson & Josh Suskewicz & Josh Suskewicz

Author:Mark W. Johnson & Mark W. Johnson & Josh Suskewicz & Josh Suskewicz [Johnson, Mark W.]
Language: eng
Format: azw3
ISBN: 9781633697546
Publisher: Harvard Business Review Press
Published: 2020-04-13T16:00:00+00:00

Nespresso: A Slow-Brewing Success

Today Nespresso is a household name, but its global success didn’t happen overnight. Nestlé acquired the basic design for a single-serve home espresso maker in 1974 and introduced it in a few European markets in the early 1980s. Breakeven didn’t come until 1995. In 2000, the same year the product debuted in North America, Nestlé changed its marketing model and began to sell the product in “boutiques” in department stores. With its new elite cachet, Nespresso’s sales increased by double digits year over year for nearly a decade. Hiring George Clooney as its spokesperson cemented its elite brand proposition even more. By 2015, Nespresso was a $4.5 billion global brand, and it continues to show mid-single-digit growth.

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