The American specialty coffee roastery and cafe chain, which has deals to open stores in South Korea and the United Arab Emirates, has seen its sales jump 31% this year compared to its combined 2022 results.
Reborn Coffee Store in Irvine, California | Photo Credit: Reborn Coffee
Californian coffee shop Reborn Coffee reported forceful third-quarter sales as it continues to cut losses ahead of its much-anticipated international debut.
The chain of specialty coffee roasteries and cafes reported sales of $1.5 million in the three months ended September 30, 2023 – matching the results from the second quarter and 81% higher than in the third quarter of 2022.
Reborn Coffee’s revenue for the first nine months of 2023 was $4.2 million – 31% more than total sales in 2022.
The company, which operates 14 stores in California, said increased marketing spending and growing brand recognition boosted sales. The forceful results also helped narrow its year-over-year loss in the quarter, from $0.9 million in the third quarter of 2022 to $0.7 million.
As part of its long-term plans to open 40 stores in the U.S., Reborn Coffee plans to open two flagship stores in the California cities of San Francisco and San Diego, as well as its first out-of-state locations in Texas and Missouri.
Reborn Coffee also announced progress on its international expansion plan, which will see the brand open stores in South Korea, the United Arab Emirates and Austria in the near future.
First announced in December 2022, Reborn Coffee will debut in South Korea with a flagship store in Daejeon. The store is scheduled to open before the end of the year.
In an interview with World Coffee Portal in August 2023, Reborn Coffee CEO Jay Kim stated that the investment in Daejeon would become a cornerstone of the “broader strategic plan for Asia,” becoming a central hub for all future Asian outlets.
Last month, Reborn Coffee announced a strategic partnership with Sheikh Hamed, owner of the Millennium Hotel in Abu Dhabi, to open its first coffee shops in the UAE. The licensing agreement will allow Reborn Coffee to open at least 10 retail outlets in the country over the next five years, starting with a location at the Millennium Al Rawdha Hotel.
“We continue to execute our expansion strategy as we prepare to open modern company-owned retail stores in Southern California and modern flagship stores in states such as Texas, as well as global locations including South Korea, Austria and Dubai with our partners. We believe that our expansion strategy, driven by solid customer demand, modern product innovations and effective operational execution in our retail stores, will support Reborn’s continued revenue growth in the coming years,” Kim said.
The chain of specialist coffee roasteries and cafés is also exploring opportunities to open stores in Malaysia, Indonesia, Thailand, India, Kazakhstan and the UK.
