The Cebu City-based coffee chain will open the majority of 25 planned new stores in Luzon, with further outlet growth also forecast across the next few years
Bo's Coffee currently operates 130 stores across the Philippines | Photo credit: Bo's Coffee
Bo’s Coffee is seeking to open 25 new stores across the Philippines by the end of the year.
The coffee chain, which currently operates 130 stores across the country, will open the majority of its new outlets in Luzon, the Philippines’ largest island and home to the capital city, Manila.
CEO Steve Benitez told BusinessWorld that he feels ‘very bullish’ about Bo’s Coffee’s growth this year. The coffee chain currently has 10 new sites in the pipeline and five under construction, he added.
“We are actually looking at 25 stores. We should hit around 150 total stores this year and we are currently at 130 stores. If everything pans out as planned, we could go beyond 150,” Benitez said.
He also told the Filipino newspaper that he forecasts momentum continuing for the next few years and that Bo’s Coffee’s sales performance year to-date has surpassed pre-pandemic levels.
World Coffee Portal research forecasts the Filipino branded coffee shop market will exceed 2,060 outlets by 2025. Market leader Starbucks, which operates 430 stores across the archipelagic country, said in November 2022 that it would open up to 45 new stores annually.
Cebu City-based Bo’s Coffee also operates eight stores in Qatar via franchise partner Al Majed Group and two outlets in the UAE, via Al Mulla Business Group.