easyCoffee brews up expansion plans
easyCoffee is set to ramp up its store opening programme across the UK following a successful £2m raise from private equity group, Jaguar Alternatives.
The additional funds will be spent on building its largest store to date in The Priory Shopping Centre, Dartford with 100 covers as well as possible new outlets in Liverpool, Manchester, Cardiff and Swindon
This latest raise values the business at £15.5m and follows a successful launch and first round investment by Al-Dhowayan, a Saudi investment group.
Jaguar’s previous investments have been in the sector with a successful coffee shop chain in Vietnam.
easyCoffee already has a flagship store in Leicester Square, a coffee training and product development store in Covent Garden and has opened three stores this summer in Hastings, Blackburn and Edinburgh.
Founder Nathan Lowry said:
“It’s a great endorsement of the brand and our strategy to place easyGroup at the heart of local communities.
“Our shops also get involved in the local community with projects that include sponsorship of Hastings United football team thereby raising our local profiles more quickly than our competitors. Our large store formats reflect the growing customer needs and desire for more lifestyle outlets offering a third space to drink eat meet work and relax.”
Vending machine trials have also been taking place over the last year and easyCoffee is now ready to grow this part of the business with potential in shared workspace environments and major retail chains currently without a coffee outlet.
“There is great resonance in the “easy” brand. A daily cup of coffee is already far too expensive – so by using our well liked, top quality Fairtrade Arabica blend we offer great value for money. In fact, our coffee is so good that customers have even asked us to have it served on-board easyJet!”, he added.
NOTES TO EDITORS:
Food and drink analysts Allegra have valued the UK retail coffee shop market at approximately £8bn, with annual growth of around 10%. There are currently approximately 20,000 stores operating nationwide.
easyGroup is the private investment vehicle of Sir Stelios Haji-Ioannou. It owns the easy® family of brands and licences it in return for a royalty to all its business partners, including easyJet plc – the airline Stelios started in 1995, and in which he and his family remain the largest single shareholders.
Nathan Lowry – easyCoffee – 0207 499 3543