[THE INVESTOR] Ediya Coffee announced on Oct. 17 that it aims to open a premium store in Beijing, China, next year, a decade after it shut operations there.
The Korean coffee franchise entered the Chinese market in 2005 but exited after three years following a lukewarm response as it failed to differentiate itself from rivals.
“This time we have prepared a differentiated strategy of having a large-size store with premium services and products,” Ediya Coffee CEO Moon Chang-gi told a local news outlet. “The new store will be located in Wangjing area, where foreigners and middle-class Chinese customers reside, and is a popular tourist destination. The premium store will be able to fulfill their demands.”
The company has also laid out plans to open more stores, mainly in the big cities of China and Japan. Instead of having a number of outlets overseas, it has decided to open one premium landmark store in big cities worldwide.
Ediya Coffee, which focuses mostly on small shops with low-cost coffee and currently operates 2680 stores here was established in 2004. Its sales reached 184.1 billion won (US$171.87 million) with an operating profit of 20.2 billion won last year.
By Song Seung-hyun (firstname.lastname@example.org)