Caribou Coffee announces important milestone
Caribou Coffee Company, Inc., the second largest company-owned premium coffeehouse operator in the US, has officially opened its 100th international operating location. The 100th international Caribou coffeehouse is located in the cosmopolitan and bustling city of Istanbul, Turkey. Caribou's 100th operating coffeehouse, which opened on May 10, 2012, in partnership with master franchisee Al Sayer Group and Turkey's Yildiz Holding, is Caribou's 6th store in Turkey.
"The Caribou brand, and our shared dedication to quality and service, has resonated well in this region of the world," says Hamad Alsayer, Al Sayer Group General Manager. "We view this market expansion as an important step in our combined commitment to global franchise development over the next several years."
Al Sayer Group currently operates 89 of Caribou's 100 international locations in Turkey, Kuwait, United Arab Emirates, Lebanon, Bahrain, Jordan, Oman and Kingdom of Saudi Arabia. In 2011, Al Sayer Group entered into a joint venture with Yildiz Holding to bring the first – and largest – Caribou coffeehouse to Turkey, a country known for its coffee traditions and culture, in an effort to share Caribou's love for coffee with Turkish communities.
"The 100th international coffeehouse milestone is part of our larger expansion strategy to develop and strengthen Caribou's brand in the countries where we already exist, before proceeding to grow in new markets," says Mike Tattersfield, president and CEO of Caribou Coffee. "We plan to open a number of stores, both domestically and internationally, and increase our total store count by 10 to 12 percent in 2012."
Caribou has also ramped up its packaged coffee sales in grocery and foodservice channels over the past several years and grown its commercial business significantly, primarily in the US. As Caribou continues to engage new fans in international markets, the brand plans to maintain this trajectory, and demonstrate a strong presence in all channels of the coffee market across the globe.