The Coffee Bean & Tea Leaf Inks Exclusive Development Deal To Expand Into China
Aug 25, 2015
Entering into its 28th international market, the Southern California brand will introduce over 700 new stores across China with retail conglomerate partner, E-LAND
The Coffee Bean & Tea Leaf announced the signing of an exclusive area development agreement with South Korean retail conglomerate, E-LAND, to introduce its brand to China. Entering into its 28thinternational market by the end of 2015 further reinforces the brand’s established Asian footprint, a key component of the company’s growth and expansion strategy. Founded in Los Angeles in 1963, the iconic brand is one of the world’s first and largest privately held coffee and tea retailers with over 1,000 stores globally collectively serving more than 110 million coffee and tea beverages each year and over 25,000 Ice Blended® drinks a day.
While E-LAND already has a significant presence in China consisting predominantly of fashion retail brands with over 7,000 outlets directly operated by the company, they are continuing to expand the food and beverage retail component of their business. Their restaurant portfolio encompasses 20 plus brands with now the inclusion of The Coffee Bean & Tea Leaf®, with their first store opening in the fourth quarter this year and a long term expansion plan, introducing over 700 new store locations across China.
“Introducing our iconic brand to the Chinese market signifies a huge milestone for us. Known for its rich and storied tea history, we are excited to lend a hand in shaping a lasting, high-quality coffee culture with Chinese tastes in mind,” says Jeff Schroeder, Senior Vice President of Operations. “Together with E-LAND’s vast retail experience and success to ensure our continued growth in China, we’re proud to put our Southern California style of hand roasted coffee and whole leaf teas on the map in yet another country.”
“It has significant meaning that there is a combination of the competitiveness and retail chain network E-LAND has in China and the global brand The Coffee Bean and Tea Leaf®. It will be grown successfully as a major coffee brand in the China coffee industry, one of the fastest growing markets in China by differentiated strategy considering the lifestyle of local customers,” said Choi Jong Yang, President of E-LAND China.
The expansion into China marks the latest major announcement in the brand’s growth following the introduction of new stores into the territory of Japan earlier this year. While The Coffee Bean & Tea Leaf® works to expand its international footprint; it continues to invest in its home market of Southern California, commemorating its 1,000th store opening milestone in Los Angeles this past June.