The Coffee Bean & Tea Leaf® Inks Exclusive Development Deal To Expand Into China
Entering into its 28th international market, the iconic Southern California brand will introduce over 700 new stores across China with retail conglomerate partner, E-LAND
LOS ANGELES, Aug. 24, 2015 /PRNewswire/ -- The Coffee Bean & Tea Leaf®, Southern California's oldest and largest privately-held specialty coffee and tea retailer in the U.S., announces the signing of an exclusive area development agreement with South Korean retail conglomerate, E-LAND, to introduce its premium beverages and innovative brand culture to China. Entering into its 28th international 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.
About The Coffee Bean & Tea Leaf®
Born and brewed in Southern California since 1963, The Coffee Bean & Tea Leaf® is the oldest and largest privately-held specialty coffee and tea retailer in the United States. Embodying a passion for connecting loyal customers to one another with carefully handcrafted products, the company is known for sourcing and providing the finest ingredients and flavors from around the world. For over 50 years, The Coffee Bean & Tea Leaf® has demonstrated a passion for product innovation epitomized by The Original Ice Blended® drink. The company has grown to be an international icon and currently has over 1,000 stores in nearly 30 countries. Please visit CoffeeBean.com for more information.
About E-LAND
E-LAND holds 240 brands of 6 business areas—fashion, food, leisure, amusement park, retail and entertainment. It has established about 20 foreign branches in China, US, Europe and Asia and has grown into a global company by advancing abroad aggressively. E-LAND is the No.1 Korean fashion company managing various brands across all lines of clothing. Also it topped in retail business as operating about 50 department stores and outlet malls. In addition, it has focused on leisure and food services as new growth businesses. E-LAND has 24 branches of Kensington hotels and resorts, cruise ships in Han River, a travel agency, various restaurant brands the biggest chain in Korean, the K-POP concert hall and K-League soccer team. E-LAND is considered the most successful Korean fashion and retail company in China's markets. It launched the China business in 1994 and has 7,300 direct management stores across the 249 areas and 1,070 department stores and shopping malls. Also it has a connection with 50 business partners.
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SOURCE The Coffee Bean & Tea Leaf
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