The California-based specialty coffee roaster and café chain says it is ‘highly focused’ on opening new stores in the US and international markets following strong first quarter sales
Reborn Coffee's Brea outlet in California, US | Photo credit: Reborn Coffee
Reborn Coffee has reported quarterly revenues exceeding $1m for the first time as it continues to explore outlet expansion in the US and internationally.
The California-based specialty coffee roaster and café chain achieved 50% revenue growth to reach $1.1m in three months ended 31 March 2023, primarily driven by new store sales and a marketing drive to increase brand recognition.
Reborn Coffee currently operates 12 outlets, with four further sites in development across California, Kansas and Texas.
As part of its international outlet expansion plan, Reborn Coffee is ‘actively conducting due diligence and seeking differentiated and prime locations’ that will serve as strategic footprints in South Korea and Malaysia. The café chain has also mooted Austria and the UAE as attractive markets it is keen to enter.
In January 2023, Reborn Coffee announced it would open its first international location in Daejeon, South Korea. The store will operate alongside a roastery and R&D facility at the 2,000sq ft site, which the company said will serve as both the flagship location for Reborn and the headquarters for its franchise programme in South Korea.
“The first quarter of 2023 was highlighted by ongoing revenue growth from company operated store sales, in conjunction with ongoing location and product expansion. We are now highly focused on the opening of new US and overseas locations, joint R&D projects, B2B marketing expansion and new product launches. Taken together, we believe our expansion strategy, driven by sustained customer demand, new product innovation and effective operational execution across our retail locations, will support continued revenue growth for Reborn in the years to come,” said Jay Kim, CEO, Reborn Coffee.
Reborn Coffee achieved 42% revenue growth in the 12 months ended 31 December 2022 to reach $3.2m, up from $2.3m in 2021. Gross profit for the period grew 49% to reach $2.1m.