The coffee and juice chain has said it plans to launch in the Middle East later this year with stores in Qatar and the UAE and could launch an IPO within five years
Joe & The Juice could operate up to 300 stores in the Middle East within 10 years and launch an IPO within five | Photo credit: Joe & The Juice
Joe & The Juice has revealed an ambitious growth ten-year plan in the Middle East and could launch an IPO within five years.
In an interview with Bloomberg, the Copenhagen-based coffee chain’s CEO Thomas Nørøxe
outlined plans to open stores in Qatar and Dubai in the third quarter of 2022. Further store openings in Saudi Arabia, Kuwait, Bahrain and Oman are planned by the end of 2022, Noroxe confirmed, with the brand planning to operate 200-300 outlets in the Middle East within ten years through a franchise model.
Joe & The Juice currently operates around 300 stores in Europe, the US and Asia Pacific.
Nørøxe also said that if the new stores were sufficiently profitable Joe & The Juice could launch an IPO within five years. “I can easily see Joe & The Juice as a listed company as we deliver growth rates beating the industry average,” he said.
Nørøxe, a former investment banker, was appointed CEO of Joe & The Juice in June 2021 and tasked with leading the brand’s global expansion. He has previously held roles as Director of Strategy, Development, and Chief of Staff at Joe & The Juice. Nørøxe was also co-responsible for facilitating private investment firm Valedo Partners’ majority stake in the company for a reported $43m in 2013.