The Colombian café chain credited improved sales from outlets in Ecuador, the US, Spain and Chile and a greater retail presence in Turkey, Qatar and Argentina for its 2022 revenue growth
Juan Valdez has reported an ‘exceptional’ year for its global business, with outlet growth and increased retail distribution in international markets driving its 2022 revenues.
The Bogotá-based coffee chain achieved sales growth of 52% to reach Col$554bn ($116m) in the 12 months ended 31 December 2022.
The robust sales performance saw Juan Valdez’s gross profit reach Col$2.9bn ($608,000), following a loss of Col$1.3bn ($283,000) in 2021.
Juan Valdez said profit from operating activities, which deducts wages, depreciation and cost of goods sold, reached Col$29.7bn ($6.2m) in 2022, 34% higher than in 2021.
The Colombian coffee chain cited an ‘exceptional’ year for its international business which saw the coffee chain open 41 stores outside of Colombia.
Alongside 357 stores in Colombia, Juan Valdez operates 178 outlets across 15 international markets.
The coffee chain highlighted stores in Ecuador, the US, Spain and Chile as key performers.
Additionally, Juan Valdez said it achieved a greater volume of packaged coffee sales in international markets last year resulting in a 38% growth in exports compared with 2021.
In a press release, Juan Valdez highlighted its retail entry into markets ‘with high consumption potential’ for its 100% Colombian premium coffee, such as Turkey, Qatar and Argentina, as consolidating its international sales growth.
Juan Valdez opened its first store at El Dorado International Airport in Bogotá in December 2002.
The coffee chain’s first international outlet opened in Washington DC, US, in 2005.
In February 2022 Juan Valdez partnered with Florida-based project management firm Hurd Construction Management to open 182 stores across Florida by 2025 as part of a multi-year construction investment worth $50m.
