The UK-based coffee chain is seeking to at least double its revenues and store count over the next 12 months, with 130 outlets forecast by the end of 2023, including plans to enter the US market
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Black Sheep Coffee is aiming to operate 131 shops by the end of 2023 | Photo credit: Hello Lightbulb
Black Sheep Coffee is seeking to increase in-store revenues and scale its UK footprint following a strong sales performance in 2022.
The UK-based coffee chain said like-for-like sales increased 43% in 2022 against the previous year, with total fourth quarter revenues rising 25% on the same period in 2021.
Co-founder Gabriel Shohet said the company ‘should at the very least double sales in 2023 versus 2022’ and has set a base forecast to operate 131 shops by the end of 2023.
Founded in 2013, Black Sheep Coffee currently has 53 stores across the UK, with new openings slated in Edinburgh, Newcastle and Cardiff early this year.
Black Sheep Coffee is also set to make its US debut with a store in Dallas in April 2023.
The coffee chain received investment from NBA basketball player Kristaps Porzingis in October 2022 to kickstart its US expansion.