The Californian coffee roaster and nine-strong café chain intends to open more than 40 stores in the US and make its debut in Europe, Asia and the Middle East after closing a $7.2m IPO in August 2022
Reborn closed a $7.2m IPO in August 2022 which it said would help expand its café network | Photo credit: Reborn Coffee
Reborn Coffee is eyeing US and international outlet growth after closing a $7.2m IPO earlier this year.
The California-based roaster and coffee chain reported second quarter revenues of $0.8m for the three-month period ended 30 June 2022. Sales grew 63% on the same period in 2021, with Reborn incurring a net loss of $0.9m.
Reborn currently operates nine coffee shops across California and plans to open up to 40 company-owned retail locations and four flagship locations in the US, targeting cities such as San Francisco, San Diego, Houston and Kansas City.
Additionally, it intends to launch in four international locations in the next few years, with South Korea, Austria and the UAE cited as potential markets
As well as its company-owned stores, Reborn Coffee distributes whole bean coffee, pour-over-packs and cold brew products at retail locations, kiosks and cafés across the US. It plans to expand its e-commerce marketing and launch new Reborn-branded products, such as cascara tea packs, red tea bag packs and cold brew cans, next year.
“The second and third quarters of 2022 were significant milestones for our company with our transition to a public company and the addition of new capital to accelerate our growth strategy. Looking ahead, with support from the IPO capital, we will continue to execute on our rapid growth as we strategically expand our footprint in existing and new markets.
“We have four additional company-owned retail locations in Southern California in development (which, once opened, will bring our total count to thirteen) and are developing our franchise opportunity. We expect to provide additional announcements on our new location pipeline timeline in the coming weeks,” said Jay Kim, CEO, Reborn Coffee.
According to the Reborn Coffee website, the company differentiates itself by using a magnetised water process to wash green coffee beans prior to roasting, which it says helps extract impurities and increase bean hydration.
Founded in 2015, Reborn achieved revenues of $3m for the 12 months ended 31 March 2022 and reported a loss of $3.4m.