The Spanish specialty coffee chain says sales and outlet growth this year will be a springboard to significant growth in 2024, when it forecasts revenues will reach €7.5m ($8.1m)
East Crema Coffee’s Sorní Coffee House in Valencia, Spain | Photo credit: East Crema Coffee
East Crema Coffee plans to open five new stores before the end of 2023 and achieve full-year revenues in the region of €1.5m–€2m ($1.6m–$2.2m).
The specialty coffee chain currently operates eight stores across Madrid and Valencia, with new outlets in development across both cities as well as Seville and Donostia. East Crema Coffee expects to reach 17 outlets by the end of the year.
Founded in October 2020, East Crema Coffee plans to open between 10–20 new stores in 2024 and significantly increase revenues to €7.5m ($8.1m).
Speaking to World Coffee Portal in February 2023, CEO Alberto Velarde said East Crema Coffee would seek to reach 60 outlets across Spain before expanding to other European cities in 2027.
The Madrid-based coffee chain forecasts it will open its first stores in Portugal and France, Velarde told Restauración News.