Coffee Beanery opens in Cyprus, 3 more by end-2007

New franchise operator looks to Europe

 

With commercial property prices rising steadily in tandem with the spending power of Cypriot consumers, the ‘franchise wars’ has now moved to the beverages sector with coffee companies popping up all over the island.

The latest newcomer is the U.S. family-owned Coffee Beanery that has opened its first franchise outlet in Nicosia and plans to open three more, challenging the dominance of Starbucks that already counts seven cafes and Costa Coffee that presently has four.

Following the successful opening of the first franchise unit in the capital’s trendy Engomi neighbourhood, the operators of the Coffee Beanery have ambitious plans to expand islandwide and later on in certain European markets.

Coffee Beanery franchise operator, Lambros Christophi, told the Financial Mirror that plans are underway to open three more outlets in Cyprus within the next couple of months.

“We plan to open two new units in Limassol, on July 17 and August 20, followed by the a new unit in Nicosia’s fashionable

Stasikratous Ave.

by the end of August,” he said.

The Coffee Beanery opened its first stores in the United States in 1976, before the American public knew the term “specialty coffee.” In the 30 years that have followed, the Coffee Beanery continues to build its brand and franchise organization on the principles of time-tested and honoured traditions and values.

Today, the Coffee Beanery has over 135 locations throughout the U.S., 25 locations internationally, and is recognized as an industry leader for its unique family business approach, corporate culture and commitment to quality.

Its franchise outlets are operating or under development in Puerto Rico, China, Hong Kong, Macau, Korea, Qatar, Bahrain, UAE and Kuwait.

 

Starbucks opens first store in Romania

 

Meanwhile, Starbucks Coffee Company and its European joint venture partner, Marinopoulos Holding SARL, opened the first Starbucks store in Romania in April. The coffee shop is located in Plaza Romania one of Bucharest’s premiere shopping malls, on

Timisoara Boulevard

.

“Bucharest is an ideal location for Starbucks entry into Central and Eastern Europe,” said Martin Coles, president of Starbucks Coffee International.

Starbucks has extended its relationship with its Greek joint venture partner, Marinopoulos Holding, to create Marinopoulos Coffee Company III SRL, which will be responsible for the day-to-day operations of the business in Romania.

Since 2002 Marinopoulos has partnered with Starbucks in several other markets. It operates 52 retail locations in Greece, 26 in Switzerland, 11 in Austria and 7 in Cyprus, with intensive expansion plans for the region.

Starbucks is the leading retailer, roaster and brand of specialty coffee in the world, with more than 9.260 retail locations in North America, Latin America, Europe, the Middle East and the Pacific Rim.

The Marinopoulos Group operates world-class brands like Carrefour, Marks & Spencer, The Beauty Shop/Sephora, FNAC and Dia in Greece and recently refurbished all the Chris Cash and Carry stores it purchased two years ago. Two new Carrefour stores are being planned for Nicosia.

 

Newcomers catch up

 

Coffee franchise newcomers Costa Coffee and Gloria Jean’s have also set their sights on further expansion on the island.

Myria Symeonidou of the Costa franchise operators said that since the family-owned retail company opened the first coffee outlet in April 2005, “business has been doing well.”

There are presently four Costa Coffee outlets and two more are expected to open by the end of the year – a second one in Limassol and another in Nicosia.