Coffee Bean Thailand set for expansion

Thai company Fico plans to triple the Coffee Bean & Tea Leaf network in Thailand.

Fico, a subsidiary of Evolution Capital, plans to open between 10 and 12 new Coffee Bean & Tea Leaf outlets a year to reach its goal of 75 outlets by 2018 from 16 currently.

The new outlets will be opened within shopping malls, community malls, office buildings and hospitals.

Coffee Bean entered Thailand two years ago and it says the country is one of its fastest expanding markets alongside China and Indonesia.

“We have seen great business potential in Thailand, where people recognise and enjoy the coffee lifestyle. There are many well-known brands of coffee houses and coffee beans in the marketplace, and that allows Thai consumers to learn more about the coffee culture,” said Voravan Vanaspongse, GM of Fico Coffee.

Besides traditional cafes, Fico plans to open other store formats such as mobile units and kiosks.

“Such new formats will allow us to be more flexible, opening coffee houses at temporary locations such as exhibition events and fairs,” she said.

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