Los Angeles — The Southern California brand plans to open 200 stores across Japan, with the first stores opening by the end of 2014.
Los Angeles — The Coffee Bean & Tea Leaf®, Southern California’s oldest and largest privately-held specialty coffee and tea retailer in the U.S., has signed an exclusive area development agreement with developer L.A. Style to introduce its premium beverages and innovative brand culture to the territory of Japan. L.A. Style is a joint-venture partnership between HOTLAND Co., Ltd., an experienced and actively growing operator in the Japanese fast-casual restaurant segment, and AEON MALL Co., Ltd., Japan’s largest shopping mall developer. Launching its first store by year’s end, L.A. Style Inc. intends to grow the brand’s presence nationally with an expected 200 stores across Japan.
With the expansion into Japan, The Coffee Bean & Tea Leaf® solidifies its already strong Asian footprint, which is a critical component of the company’s growth and expansion strategy. This deal marks the company’s presence in 25 countries as it fast approaches 1,000 company-owned and franchise stores worldwide.
“It’s an exciting time to enter such a prolific coffee market like Japan,” says John Dawson, president and CEO. “This is an important milestone demonstrating our commitment to continued growth in Asia.”
The expansion into Japan is the latest major announcement in the brand’s growth and expansion initiatives enacted since the appointment of John Dawson in January 2014, and 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 footprint, it is also investing in its home market of Southern California, opening new stores and bolstering executive ranks with seasoned talent.
For more information, visit CoffeeBean.com.
SOURCE: The Coffee Bean & Tea Leaf®