cafés   46

Godiva indulges global coffee craving with café rollout
DECEMBER 16, 2018 | Financial Times by Andrew Edgecliffe-Johnson and Alistair Gray in New York.

Godiva, the Turkish-owned Belgian chocolate brand, is to roll out 2,000 cafés as part of a plan to multiply revenues fivefold over the next six years — the latest sign of a coffee craze in the global food and drinks industry..... to raise capital to fund the expansion, Godiva and its bankers at Morgan Stanley have been in talks with several potential strategic investors about a possible $1bn-plus transaction....The New York-based group already has 40 cafés, including an outlet in Harrods, London, after an initial pilot launched in Istanbul and Shanghai in 2010. Yet Ms Young-Scrivner, a former Starbucks executive, said the company believed coffee consumption would continue to grow and a larger chain of Godiva outlets was “a natural extension”. Coffee and tea, she said, “pair really well with chocolate”.....Godiva’s 1,500-2,500 sq ft cafés will start appearing in big cities around the world from next spring, when the first is due to open in New York. About a third of the outlets are planned for North America, a third in Asia and a third in the rest of the world. Their menus will feature hot chocolate, cookies, affogato, chocolate-dipped strawberries and croiffles, a sweet or savoury cross between a croissant and a waffle..........The second part of Ms Young-Scrivner’s plan includes expanding Godiva’s distribution in grocery stores. The company estimates its share of the US packaged chocolate market at just 2 per cent and plans to expand the distribution of its chocolate bars and packages aimed more at self-indulgent snacking than at the premium-priced gift market where it has long focused.

Godiva was watching with interest the growth of cannabis-infused chocolates and drinks, which has prompted several large consumer groups to explore investments in cannabis companies, but this was “not a priority” for the company, Ms Young-Scrivner said.
brands  cafés  chocolate  coffee  Godiva  high-end  rollouts  expansions  cannabis  self-indulgence 
january 2019 by jerryking
An unusual family approach to investing
May 30, 2018 | FT | John Gapper.

JAB’s acquisition of Pret A Manger resembles private equity but with a long-term twist.

Warren Buffett’s definition of Berkshire Hathaway’s ideal investment holding period as forever. ....Luxembourg-based JAB, owned by four heirs to a German chemical fortune, takes a family approach to investing. It is unusual in that this holding company seeks to retain its portfolio companies for at least a decade. These include Panera Bread, Krispy Kreme and Keurig Green Mountain coffee, which it merged with Dr Pepper Snapple in an $18.7bn deal in January 2018. This week JAB acquired the UK sandwich chain Pret A Manger for £1.5bn, continuing its buying spree of cafés and coffee, mounting a challenge to public companies such as Nestlé.

**These companies are acquired not to be traded but to be invested in and expanded.**

JAB is an innovative combination of ownership and investment in a world that needs challengers to stock market ownership and private equity. It is family controlled, but run by veteran professional executives. When it invests in companies such as Pret A Manger, it deploys not only the Reimann family’s wealth but that of other entrepreneurs and family investors.......Some of the equity for its recent deals, including Panera and Dr Pepper, came from funds raised by Byron Trott, the former Goldman Sachs investment banker best known for being trusted by the banker-averse Mr Buffett. Mr Trott’s BDT banking boutique specialises in advising founders and heirs to corporate fortunes, including the Waltons of Walmart, and the Mars and Pritzker families.

This is investment, but not as most of us know it. By definition, the world’s companies are mostly controlled by founders and their families — only a minority become big enough to be floated on stock markets and need to disclose much of their workings to outsiders. Family fortunes also tend to remain as private as possible: there is little incentive to advertise how much wealth one has inherited......As [families'] fortunes grow in size and sophistication, more of the cash is invested in other companies rather than in shares and bonds. That is where JAB and Mr Trott come in.

Entrepreneurs and their families tend to be fascinated by their own enterprises and bored by managing their wealth. But they want to preserve it, and they often like the idea of investing it in companies similar to their own — industrial and consumer groups that need more capital to expand. It is not only more interesting but a form of self-affirmation for the successful....Being acquired by JAB is appealing. The group turns up, says it will not take part in an auction but offers a good price (it bought Pret for more than its former owner Bridgepoint could get by floating it). It often keeps the existing executives, telling them they have to plough their own money into the company, and invests in long-term growth provided the business is efficiently run.

This is more congenial than heading a public company and contending with a huge variety of shareholders, including short-term and activist investors. It is also less risky than being bought by 3G Capital, the cost-cutting private equity group with which Mr Buffett teamed up to acquire Kraft Heinz. While 3G is expert at eliminating expenses it is less so at encouraging growth.
coffee  dynasties  high_net_worth  holding_periods  investing  investors  JAB  long-term  Nestlé  Pritzker  private_equity  privately_held_companies  Unilever  unusual  Warren_Buffett  family  cafés  Pret_A_Manger  3G_Capital  discretion  entrepreneur  boring  family_business  heirs 
may 2018 by jerryking
Nestlé aims to bottle appeal of artisan coffee
SEPTEMBER 29, 2017 | FT| Arash Massoudi, Tim Bradshaw, Scheherazade Daneshkhu and Ralph Atkins
artisan_hobbies_&_crafts  Nestlé  coffee  millennials  cafés  Big_Food  niches 
november 2017 by jerryking
Steiner l'Europe des cafés
“Les cafés font l'Europe, écrit-il. Ils vont de l'établissement préféré de Pessoa à Lisbonne aux cafés d'Odessa, hantés par les gangsters d'Isaac Babel. Ils s'étirent des cafés de Copenhague, devant lesquels passait Kierkegaard pendant ses promenades méditatives, aux comptoirs de Palerme. (…) Dessinez la carte des cafés, vous obtiendrez l'un des jalons essentiels de la notion d'Europe.”
Europe  urbanisme  ville  cafés 
september 2016 by SophieStM
Why we don’t understand Kafka | TLS
"something written, and often written in the heat of inspiration … is less a “text” than a process"; ""How many words there are in this book! They are meant for remembrance! As though words could remember! For words are poor mountaineers and poor miners. They cannot bring down the treasure from the mountains’ peaks, or up from the mountains’ depths”"; "then the vertical is, as it were, subsumed into the horizontal, as the pronouncement of judgement is turned into the endlessness of (merely human) writing"; "European modernism grew out of a combined sense of rootlessness and comradeship"
Gabriel_Josipovici  TLS  Kafka  2012  writing  memory  language  modernism  cafés 
april 2016 by Preoccupations
Bono’s brother revives ’90s restaurant for charity
IF YOU REMEMBER the mid-1990s in Dublin, you probably remember Tosca. The restaurant was run by Bono’s brother Norman Hewson and for some time played host to celeb launches and the capital’s party set until it closed in 2000.

Now Tosca is to be revived – for one night only on 26 October – in Smock Alley Theatre in Temple Bar to raise funds for Self Help Africa. Over 25 original staff from Tosca are returning for the night to offer their services for free. These include Hewson himself, former head chef Aongu Hanly (now head chef with Cavistons in Glasthule) and actress Ciara O’Callaghan, who now plays Yvonne in Fair City but who was once a waitress in Tosca.

Shortly before Tosca closed, Hewson started his new venture, organic ‘fast food’ restaurant chain Nude with one of the outlets in the building beside where Tosca stood on Suffolk Street. Nude closed in 2010.
june 2014 by rufous
Nude Restaurant Closes
Nude cafe on Dublin’s Suffolk Street, owned by Bono’s brother, Norman Hewson, has ceased trading according to suppliers. The premises has been closed and chairs remain stacked.

Latest accounts for Nude Ltd show that it had accumulated losses of more than €3 million at the end of 2007. No accounts have been filed since then.
june 2014 by rufous
What on earth is a death cafe?
"[...] Jon Underwood [created] the non-profit death café in 2011, based on the Swiss Cafe Mortel movement. As he saw it, western society has long outsourced discussions about death to doctors, nurses, priests and undertakers. The result, says Jon, is that we have lost control of one of the most significant events we ever have to face.
He suggested to various cafés in east London his idea of setting up a place to go and talk about death, but there were no takers. So the first death caf‚ in the UK was in Jon's own house in Hackney and was run by his mother, Sue Barsky Reid, a psychotherapist."
in:Guardian  death_café  death  cafés 
march 2014 by Protalina
Toronto café and coffee-shop boom about to go bust?
Feb 22, 2012 | The Grid |BY: David Sax
Since 2008, an estimated 100 new independent cafés have opened in downtown Toronto, offering premium espressos at premium prices—usually within bean-throwing distance of five or six other coffee shops. How the hell do they all stay in business?
coffee  Toronto  profitability  high-quality  Independents  cafés  David_Sax  bubbles 
may 2013 by jerryking
The search for dark secrets -
November 28, 2005 | Financial Times | By Jeremy Grant

With the premium end of the US chocolate market growing at an annual compound rate of 15 per cent compared with 3 to 4 per cent for standard chocolate, Mars believes there is scope to sell high-quality chocolates in a café setting to a target group of relatively affluent people aged from 25 to 39.

Focus group work, and the number of young mothers visiting the Chicago stores with prams and strollers, tells Mars that most will be women. It is perhaps no coincidence that the name Ethel – that of the wife of Mars company founder and inventor of the Milky Way, Frank Mars – was chosen.
CAGR  cafés  chocolate  confectionery_industry  CPG  experimentation  gourmands  gourmet  high-end  high-growth  high-quality  market_research  Mars  niches  retailers  Starbucks  upscale  women 
july 2012 by jerryking
Cat café
Austria's first cat café.
slideshow  cafés  pets  Vienna  cats 
may 2012 by Protalina

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