International outlet growth drives Juan Valdez’s half-year sales

Juan Valdez opened 21 net new stores in the first six months of 2023 to reach 556 stores globally | Photo credit: via Shutterstock

Juan Valdez has reported double-digit revenue growth in international markets in the first six months of 2023, with wider retail distribution in Colombia also credited with driving positive half-year results. 
 

The Bogota-based coffee chain achieved 39% year-on-year sales growth in the six months ended 30 June 2023 to reach Col$342.8bn ($83.4m), alongside Col$28.3bn ($6.9m) operating profit. 

Juan Valdez opened 21 net new stores during the period to reach 556 stores globally, 360 of which are in Colombia. The majority of Juan Valdez’s international sites are in neighbouring South American markets, including Chile, Bolivia, Peru and Ecuador, with a small number of stores also in the US, Spain, Turkey, Malaysia, Qatar and Kuwait. 
 

The coffee chain posted consecutive quarterly sales growth across its domestic store network, with three net new stores opened in Colombia in the first half of 2023. 

Bogota-based Juan Valdez also posted double-digit sales growth in international markets compared to the same six-month period of 2022, bolstered by new stores and greater horeca distribution. The coffee chain opened 18 net new outlets outside of Colombia in the first half of 2023 to reach 196 stores across 15 international markets. 

Additionally, the coffee chain broke average sales records in its domestic retail channel, which distributes packaged coffee to more than 100,000 Colombian supermarkets and grocery stores, while horeca partnerships also achieved year-on-year sales growth. 

Juan Valdez’s robust half-year results follow a strong 2022 performance in which the coffee chain posted 52% sales growth to reach Col$554bn ($116m), alongside Col$2.9bn ($608,000) gross profit.