SEOUL, KOREA - "We opened a new large store in the center of Riyadh in mid-May. We plan to open 300 more locations in six countries in the Middle East within three years from now." Kim Sun-Kwon, CEO and president of Caffe Bene, Korea's home-grown specialty coffee shop brand, said this, adding that the outlook for the Middle East is very bright given the ongoing Korean Wave fever among the young consumers.

 

 

The newest store was opened on Takhassusi Street in downtown Riyadh, Saudi Arabia, on the 18th. With a floor area of 400 square meters, the two two-story space has a total of 160 seats. Caffe Bene had moved into the Saudi Arabian market in June 2012 when it signed a master franchise agreement with the local Keden Group. The company set its eyes on the Gulf Cooperation Council member countries including Kuwait, Bahrain, Qatar, Oman, United Arab Emirates, as well as Saudi Arabia to open up to 300 locations by 2017.

 

To a question how the company has coped with its globalization drive for the past two year, Kim said, "When we opened the first overseas store in New York's Times Square in January 2012 against all odds, everyone was surprised. Since that time on, we have established 12 locations in the United States, with master franchise agreements in China, Japan, Southeast Asia, and the Middle East. Up until now, we have opened about 300 stores and another 300 are awaiting launch. Soon there will be a total of 500 stores in 22 countries worldwide."

 

He added that the centerpiece of his company's expansion strategy is "localization." Instead of becoming another Starbucks, he said, his company seeks to create ambiance of a European cafe. He said, "From the menu to taste, interior, and to sales strategy, we pursue to be a perfect local company."