The coffee chain has partnered with Waterscape Investments Pvt. Ltd. to open cafés across the South Asian archipelagic state as part of wider planned franchise growth
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Yousif Abdulghani, Chief Development Officer, CBTL (left), Hussain Hilmy, CEO, Waterscape Investments (centre) and John in de Braekt, CEO, CBTL | Photo credit: The Coffee Bean & Tea Leaf
The Coffee Bean & Tea Leaf has signed a franchise agreement with Waterscape Investments Pvt. Ltd.to open stores in the Maldives.
The Singapore-based coffee chain, which is owned by Filipino foodservice group Jollibee Food Corporation, said the first store of the partnership will open in the third quarter of 2024 before expanding its café footprint across the small South Asian archipelagic state.
“We’re delighted to reach the Maldives in partnership with Waterscape Investments. This expansion represents a step forward in our growth strategy, allowing us to share our passion for coffee and tea with even more people around the world, and we look forward to establishing ourselves as a beloved brand in the Maldives,” said Yousif Abdulghani, Chief Development Officer, The Coffee Bean & Tea Leaf.
In a press release, The Coffee Bean & Tea Leaf said it is seeking to expand its international footprint through new franchise deals with multi-unit investors. New stores are in various stages of development throughout the US, South America, the Middle East and Asia, the coffee chain added.
The Coffee Bean & Tea Leaf operates 1,165 cafes across 24 markets globally, as of March 2024.
The Maldives is the smallest country in Asia by area and the second least populous. However, a handful of international branded coffee chains have entered the market, including UK-based Costa Coffee in 2018, Australia’s Gloria Jean’s and Indian coffee chain Barista.