Brazilian coffee chain The Coffee is planning to expand its international footprint by opening its first stores in the Middle East in 2024, reported World Coffee Portal.
The move is driven by increased consumption of coffee in the region, investments in coffee production and the growth potential there.
The Coffee’s growth in the Middle East region will commence with two franchised stores in Dubai, United Arab Emirates (UAE), in 2024.
It plans to open its first stores in Saudi Arabia and Egypt during the first six months of the same year.
Founded in 2018, The Coffee completed an investment round of $7.5m in January 2023.
In October 2023, the coffee chain raised an additional $10m to facilitate its entry into the Middle East and expand its operations across Europe and South America.
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The Coffee currently operates 200 stores in Brazil and 23 outlets across Chile, Colombia, France, Peru, Portugal and Spain.
The Coffee generates about 85% of its revenues from its operations in Brazil, where it is planning to have 320 stores by the end of 2024.
It intends to open 1,500 stores outside Brazil, with a further 12 before the end of 2023, and 35 in the first half of 2024.
The UAE is the Middle East’s second-largest branded coffee shop market with more than 1,400 coffee outlets.
In December 2023, SSP Group announced the opening of a new Food Park at Abu Dhabi International Airport in UAE, while in September, India’s celebrity chef Ranveer Brar opened his first UAE restaurant, KashKan, in Dubai.