Caribou Coffee Keeps Growing

MINNEAPOLIS-Caribou Coffee is slightly tempering the opening of its new store locations with plans to open 50 to 70 new units this year. The expansion plans are a bit down from last year’s, when the company opened 80 units, bringing the chain to a total of 464 coffeehouses.

As it grows, Caribou is stepping up the number of stores owned by franchisees. Of this year’s total, 25 to 40 are projected to be opened by franchise operators, which opened 20 of last year’s new units. The chain only has 24 franchised coffeehouses currently in operation.

In addition to expanding in the US, Caribou is opening units abroad, in South Korea. The first three stores are scheduled to open in Seoul in the first quarter, with a minimum of 25 to be opening in the next five years.