Coffee Wars are Brewing as LA-Based Coffee & Tea Leader Unveils Plans to Open 100 Stores Across NYC Metro Area
LOS ANGELES (June 26, 2018) – The Coffee Bean & Tea Leaf®, one of the world’s leading roasters and retailers of specialty coffee and tea, announced today that it is returning to New York City through its new franchisee, Hudson River Coffee & Tea, a venture of outstanding operators, developers and real estate experts.
Hudson River Coffee & Tea will open 100 franchise locations of The Coffee Bean & Tea Leaf® stores across prime real estate in New York City, beginning with Manhattan later this year.
"The Coffee Bean & Tea Leaf® has never wavered from delivering quality and innovative coffees and teas from around the world,” said Pinchas Shapiro, chief executive officer, Hudson River Coffee & Tea. “We’re thrilled that Hudson River Coffee & Tea has the opportunity to bring this iconic brand to the New York market.”
To date, the beloved Los Angeles-based chain has 311 stores in the United States and more than 1,200 locations across 30 countries worldwide. New York marks the 14th state to welcome The Coffee Bean & Tea Leaf®.
“New York has always been an important market for us,” said JJ Smith, vice president, franchise operations & business development, The Coffee Bean & Tea Leaf®. “Hudson River Coffee & Tea’s successful track record and expertise in real estate development makes it the ideal franchisee to bring The Coffee Bean & Tea Leaf® to coffee and tea-loving New York City.”
“The Coffee Bean & Tea Leaf® has maintained a steady growth rate over the past several years,” said John Fuller, chief executive officer, The Coffee Bean & Tea Leaf®. “The return to New York is not only an indicator of our core strength as a leading roaster and retailer of coffee and tea, but also a strong indicator of our customers’ deep-rooted brand loyalty that exists across the globe.”
New York City is a competitive and highly desirable market for any coffee retailer. According to a recent poll, 62 percent of New Yorkers consume coffee on a daily basis, and of coffee drinkers, 60 percent have more than one cup a day (Siena College Research Institute, 2018).