Family-Run Coffee House Brings Quality Coffee to Mexico and Vietnam
LOS ANGELES (Dec. 15, 2008) – The Coffee Bean & Tea Leaf®, the oldest and largest privately-held chain of specialty coffee and tea stores in the United States, continues to experience solid international growth in 2008 with expansion into two new markets, Mexico and Vietnam.
Twelve years ago, The Coffee Bean & Tea Leaf® opened its doors in Asia with the establishment of the first international store in Singapore. Of the now 700 plus The Coffee Bean & Tea Leaf® stores worldwide, 433 are independently owned and operated franchises and 320 are located internationally. Working with regional developers that understand their respective markets’ local cultures and preferences has been an effective strategy for the company. The Coffee Bean & Tea Leaf® has franchised operations in 20 countries and in 2009 intends to open more locations across Asia, the Middle East and North America, through both franchised and company-owned expansion.
A common thread among The Coffee Bean & Tea Leaf® franchisees is their personal passion for the brand. For Hawaii native Rachan Reddy, The Coffee Bean & Tea Leaf® provided a place to hang out while a student at UCLA in the early ‘90s. Reddy returned to Southern California a few years later as a medical intern, where he relied heavily on The Coffee Bean & Tea Leaf® to get him through the long hours. After medical school, Reddy switched gears and decided to pursue opportunities as a venture capitalist in Vietnam. After seeing the success of The Coffee Bean & Tea Leaf® stores in Singapore, he contacted The Coffee Bean & Tea Leaf® to inquire about securing a franchise. The first Vietnam store opened in Ho Chi Minh City in December 2008.
“I have fond memories relaxing with friends at The Coffee Bean & Tea Leaf® after a long night working at the hospital,” Reddy said. “It was always a warm and inviting place and I wanted to bring that feeling to Vietnam. What started out as a personal passion for a company with a superior product and a history of social responsibility turned into a fantastic business opportunity. I am proud to be involved with a company that really supports its franchisees and look forward to growing The Coffee Bean® brand abroad.”
While many companies franchise single units, The Coffee Bean & Tea Leaf® uses an area developer model where developers commit to owning and operating multiple stores in a specific territory. Working together with area developers and leveraging on their knowledge of the local tastes, The Coffee Bean & Tea Leaf ® has been able to make an emotional connection with coffee and tea lovers around the world.
“We are pleased that The Coffee Bean & Tea Leaf® brand has been well received abroad,” said Bob Kaufman, Vice President of Business Development & Franchising at The Coffee Bean & Tea Leaf®. “We take great care in considering local customs and tastes when opening in new territories. Our goal is to share our products in an environment that honors the local market. Collaborating with experienced local business leaders has allowed us to consider market specific customs in every step of development.”
This approach has also held true for Mexico native Roy Grinberg, who enjoyed The Coffee Bean & Tea Leaf® while living in Los Angeles for eight years. Although the coffee market in Mexico is competitive, he felt the brand, with its first rate product, would be well received in his home country. After a two-year process of setting up the business, Grinberg has opened five outlets in Mexico in 2008. The most recent store is adjacent to the first ever Best Buy store in Mexico in a shopping complex called Mundo E. In the coming year, he has plans to open several more locations.
“The reception has been amazing because we’re delivering a quality product with a targeted focus on great service,” said Grinberg. “We offer premium coffee and tea and gourmet foods with a local flair, like corn cakes with crema poblana. We’re also committed to following the Coffee Bean tradition and giving back to the community by working with two wonderful local organizations: Doctors for Laughter and the Junior League. We want our consumers to know that we’re dedicated to helping others and making a difference.”
Having experienced positive responses in diverse global markets, The Coffee Bean & Tea Leaf® is committed to further expand its franchise network both internationally and domestically in 2009. Potential area developers are encouraged to contact The Coffee Bean & Tea Leaf® to discuss franchise opportunities.
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