MANILA - British coffee chain Costa Coffee is looking for a local partner as it aims to expand into the Philippine market.
Costa Coffee international operations manager for Southeast Asia and India Matt Kenley told reporters on the sidelines of the Franchise Asia Philippines 2014 International Conference yesterday, the firm is looking for a local partner to set up coffee shops here.
The firm is hopeful that it could enter into an agreement with a local partner within the year.
“We will be looking at growing to 70 to 80 outlets in five years,” Kenley said.
The coffee chain is interested in entering the Philippine market, citing the country’s strong economic growth and rising consumption spending.
“We’ve seen a real shift in the last five years. (There is) more consumer spending, a whole coffee shop market and just general going out. Going to a coffee shop is a lifestyle,” Kenley said.
“Of course, the Philippines is a market where American brands have done well,” he added.
Costa Coffee, which buys coffee from all over the world, is also looking to source coffee from the Philippines.
“We will roast it our way,” Kenley said.
The coffee chain’s plan to enter the Philippines is in line with its aim to expand in Southeast Asia.
“We believe Southeast Asia holds potential because of its scale and strong coffee out of home consumption. It is the right time for the discerning coffee lover to have more choice,” Kenley said.
The firm is already present in countries in the region such as Thailand, Cambodia and Singapore.
Established in 1971, Costa Coffee which started as a wholesale coffee business is the second largest coffee chain in the world with 3,000 outlets in 31 countries.