SCHAUMBURG, Ill., Aug. 22, 2017 /PRNewswire/ -- DOCASA, Inc. (OTCQB: DCSA), through its wholly-owned subsidiary, Department of Coffee and Social Affairs Limited, announces the launch in the U.S. of its award-winning specialty coffee shops securing its first site at 800 Diversy in Chicago, Illinois.
The new shop is the first of 6 initial planned shops in the Chicago area, with discussions taking place on a further 5 throughout the city at this time.
People between the ages of 19 and 34 account for the highest coffee consumption in the U.S. Through 2008 to 2016, daily coffee consumption by the millennials has increased from 34% to 48%. The advancing of cafe culture as a "fashion symbol" is driving the increase of coffee consumption, according to the Mordor Intelligence Report August 2017.
President & CEO Ashley Lopez said, "Our launch in the U.S. is a natural progression following our success and market leading position in the UK specialty coffee market. The consumption of specialty coffee is increasing as shoppers are now prioritizing experience over price in the consumption of coffee. We are the "affordable premium product" and our particular appeal to coffee lovers is reflected in everything we do. Chicago is a great place to launch into the U.S., being one of the top 5 cities in the U.S. where people of the "millennial" age live. By opening shops across Chicago within the coming months, we are laying the foundations, establishing our brand and our values, before launching a completely new concept in the world of specialty coffee that we are all very excited about."
According to the Specialty Coffee Association of America, "Out of an annual $48 billion a year market, for the first time, specialty coffee will represent over 50% of that market in 2017 and is set to grow."
Chairman Professor Stefan Allesch-Taylor CBE said, "We are all excited about launching in the U.S. and have ambitious plans for growth there. Chicago is a world class city and a lover of specialty coffee, it's a natural U.S. launch city for us. As a group, we remain on track to achieve a 100% increase of our portfolio of shops secured and/or opened by the end of the calendar year. Coffee is certainly a "utility style" product in terms of demand but where it is being consumed and the environments being created by specialty coffee shops for customers to frequent are becoming increasingly and noticeably more important to the consumer. These Chicago shop openings will firmly establish our brand values, quality product offering and customer relationships before we launch our new coffee experience concept in Chicago in 2018, this new concept will mark a paradigm shift how consumers use coffee shops and will prove to be disruptive across more than one sector."
About DOCASA, Inc.
DOCASA, Inc. is focused on the investment in a rapidly growing specialty coffee markets in the United Kingdom and the United States. Through its subsidiary, Department of Coffee and Social Affairs Limited, headquartered in London, England, it has established and is growing an award-winning market leading UK specialty coffee shop and online retail business. DOCASA is also pursuing the franchising and/or licensing of its branded shops and premium product offering outside of the UK to countries where the premium coffee market is rapidly expanding. DOCASA continues to review opportunities in the broader international coffee market.
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Forward looking statement:
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. The economic, competitive, governmental, technological and other factors identified in the Company's previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in the forward-looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE DOCASA, Inc.