News

The Coffee Bean & Tea Leaf inks exclusive area development agreement for Japan

August 5, 2014

The Coffee Bean & Tea Leaf announced it has signed an exclusive area development agreement with L.A. Style to introduce the brand to Japan. L.A. Style is a joint-venture partnership between Hotland Co. Ltd., and Aeon Mall Co. Ltd., Japan's largest shopping mall developer, according to a news release.

L.A. Style Inc. aims to add 200 units across Japan, with the first set to open before the end of the year.

This deal marks the company's presence in 25 countries as it approaches 1,000 company-owned and franchise stores worldwide.

"It's an exciting time to enter such a prolific coffee market like Japan, where we can appeal to consumers who are searching for an exceptional coffee and tea experience,” President and CEO John Dawson said in the release. "We're eager to bring our brand of signature beverages and unique store experience to Japan and confident that L.A. Style, with its vast experience and resources, will guarantee continued growth in Japan for years to come. This is an important milestone demonstrating our commitment to continued growth in Asia.”

The expansion into Japan is the latest major announcement in the brand's growth and expansion initiatives enacted since the appointment of John Dawson in January 2014, and following the September 2013 investment by private equity firms Advent International, CDIB Capital, and Mirae Private Equity. While The Coffee Bean & Tea Leaf works to expand its international footprint; it is also investing in its home market of Southern California, opening new stores and bolstering executive ranks with seasoned talent. The brand is currently in the midst of its "Keep Cool and Summer On" Summer 2014 advertising campaign in the U.S., the largest to date in its company history.