Los Angeles — The Coffee Bean & Tea Leaf® entered its 25th international market when it opened in Japan in May 2015. The two new stores include a flagship location that opened May 26 in Nihonbashi, the financial hub of Tokyo, followed by the May 30 debut of a second location at AEON LakeTown, Japan’s largest eco-friendly supermall in the Saitama Prefecture of Koshigaya.
Japanese franchisee L.A. Style plans to bolster the brand’s presence with an expected 200 stores across Japan. With the foray into a new market, The Coffee Bean & Tea Leaf® reinforces its already strong Asian footprint, a key component of the company’s growth and expansion strategy.
“We’ve already won the hearts of coffee and tea lovers around the world from the U.S. to the Middle East and Asia and are excited to enter into a country celebrated for its own rich coffee and teashop culture,” says Gloria Reardon, director of global marketing.
The expansion into Japan is the latest initiative for the brand’s growth following the September 2013 investment by private equity firms Advent International, CDIB Capital, and Mirae Private Equity. While The Coffee Bean & Tea Leaf® works to expand its international presence, it is also investing in its home market of Southern California, opening its 1,000th store in Los Angeles later this year.
Founded in Los Angeles in 1963, the brand is one of the world’s first and largest privately held coffee and tea retailers with nearly 1,000 stores globally. For more information, visit CoffeeBean.com.
SOURCE: The Coffee Bean & Tea Leaf®