The US specialty coffee chain and roaster has made its debut in the Middle East with a store in Dubai as part of plans to introduce the brand across fast-growing GCC markets
The UAE is currently the second largest market in the Middle East by outlets | Photo credit: Peet's Coffee
Peet’s Coffee has opened its first store in the Middle East in partnership with multi-brand restaurant operator Americana Restaurants.
The store is located at the high footfall The Dubai Mall shopping centre in the UAE, which also counts Japanese boutique group % Arabica, US chains Caribou Coffee, Dunkin’ and Starbucks, and UK-based Costa Coffee and Caffé Nero among its coffee shop outlets.
Peet’s Coffee announced the franchise agreement with Kuwaiti-based America Restaurants in August 2022. Peet’s Coffee President Eric Lauterbach said the market entry will see the company bring ‘better coffee to more coffee lovers in the fast-growing GCC markets’.
World Coffee Portal research forecasts the UAE’s branded coffee shop market will exceed 1,650 outlets by 2027.
The UAE is currently the second largest market in the region by outlets, behind Saudi Arabia’s 3,550+ stores.
Peet's Coffee, which operates within JAB Holding-backed JDE Peet's, currently operates approximately 350 locations in the US. The California-based coffee chain delivered 13% revenue growth in the first half of 2022, driven by a 9.4% increase in prices.
Americana Restaurants is also the exclusive franchise partner for Costa Coffee in Egypt, Kazakhstan and Jordan, where it operates more than 70 stores, as well as Krispy Kreme in the MENA region.
The company completed its dual listing on the Abu Dhabi Securities Exchange (ADX) and Saudi Exchange in December 2022 after raising $1.8bn through an IPO.