Coffee Island announced that it will gain a presence in the Indian market at the beginning of December.
Meanwhile, after the opening of the fourth store in Egypt, the company also proceeded to the creation of a local unit for coffee processing.
The coffee chain remains faithful to its dynamic growth in foreign countries, following a very targeted international expansion plan in recent years which, according to Coffee Island CEO Konstantinos Konstantinopoulos, focuses on optimizing the operating model.
“In 2024, the goal is to rationalize the network and correct movements through partnerships. We have made some investments but the balances have changed. Therefore the goal is to reposition the company in some markets and change some parts in our network. We don’t want the 430 stores to become 600. We want to increase the quality of our services and products, and not the number.”
He also said that the company is expanding its presence by making a “debut” in the Indian market where it will soon start operating its first store in Delhi.
It is noted that the coffee chain has set up a joint venture in Egypt with a 30% stake. Regarding the performance of 2023, the company presented a turnover of approximately 37 million euros, recording a growth of 8%, while it is estimated that this year’s turnover will move at a similar level.
