The Colombian coffee chain has opened 14 outlets in Turkey since making its debut with franchisee Honest Holding 18 months ago
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Juan Valdez, Honest Holding and Turkish Airlines representatives at the headquarters of Turkish Airlines | Photo credit: Juan Valdez
Juan Valdez is planning ‘accelerated expansion’ in Turkey over the next 12 months as it seeks to reach 50 outlets in the country by the end of 2024.
The Colombian coffee chain entered Turkey with a store in Istanbul in April 2022 via local franchisee Honest Holding and now has 14 stores. Its latest outlet opened at the headquarters of Turkish Airlines in October 2023.
Bogota-based Juan Valdez reported double-digit revenue growth in international markets for the first six months of 2023, bolstered by new stores and greater horeca distribution.
The coffee chain opened 21 net new outlets around the world in the first half of this year, including seven in Turkey, to reach 556 stores — 360 in Colombia and 196 across 15 markets.
Turkey is the fifth largest branded coffee shop market in Europe with more than 2,730 outlets. The largest coffee chain in the country is Starbucks with 667 stores, ahead of domestic chain Kahve Dünyasi, which has 250 sites.
World Coffee Portal research forecasts the Turkish branded coffee shop market will reach 3,300 outlets by 2028.
Istanbul-based Honest Holding is also the master franchisee for Belgian bakery café chain Le Pain Quotidien in Turkey. The franchisee plans to open 10 new Le Pain Quotidien stores across Turkey by 2028, adding to its current four sites.