Coffee Island is expanding its presence abroad as it plans to enter Madrid and Egypt with iconic stores.

More specifically, the CEO of the company, Konstantinos Konstantinopoulos, speaking to FnB Daily, explained that the first Coffee Island store in Madrid is expected to open in the middle of next year, capitalizing on the brand equity and developing the brand in a country with similar consumption characteristics to Greece. "A serious effort has been made to find good partners with great dynamics, allowing us to test our strengths in a significant market like Madrid."

Simultaneously, the company is preparing to enter Egypt, opening two stores in the first quarter of 2024. One will be located at a point of global reference and high cultural heritage, at the Giza Pyramids, and the second at The Mall of Egypt. Another store will also open in London.

In Greece, Coffee Island operated the Brews & Bakes by Coffee Island at Costa Navarino, which started operating on a pilot basis. However, according to Mr. Konstantinopoulos, the feedback received was "exceptional." He added that it is a concept with distinctive features that can be integrated into food malls and markets with similar aesthetics, offering a very specific positioning in the market. It's worth noting that Coffee Island currently has 490 stores, and by 2024, its network is expected to surpass 500 points.

Prioritizing sustainable development, Coffee Island is investing in upgrading its packaging, aiming to reduce waste volume with the goal of making them fully recyclable. This is a rather ambitious project expected to unfold on a large scale during 2024. According to the CEO, a significant portion of the investment in this direction has been completed, but the installation of certain machinery is still pending. It is noted that in the near future, Coffee Island is expected to publish its agenda for sustainable development.

This year, Coffee Island is expected to conclude with an increase of over 8% in turnover, with volumes remaining at approximately the same levels. Specifically, regarding supermarket sales, Mr. Konstantinopoulos emphasizes that the part of the total turnover corresponding to supermarkets has tripled. "We have expanded our product range and our presence in chains, with new partnerships and more stores and codes," he adds, noting that the placement of Coffee Island products in retail has overall boosted sales as "consumers become familiar with the products." Coffee Island is exploring new proposals and ideas that align with current trends, meeting consumer needs. In this context, it is preparing for new launches from the next year.