The first new branch opened in Jerusalem, and a second is planned for Eilat.
Sources inform ''Globes'' that Coffee Bean and Tea Leaf Israel, owned by David Tamir and Baruch Ivcher, has begun implementing a new business model to open branches with local partners outside of Tel Aviv. The first branch under the new business model was opened in Jerusalem at an investment of NIS 2 million, with a local partner who will own half the branch.
Another branch under the same business model will be opened in Eilat. These branches will not be franchises (the business model used by the Aroma Cafe chain), but partnerships.
The Coffee Bean and Tea Leaf branch in Jerusalem has 260 sq.m., located on Jaffa Road opposite Zion Square. Since opening two weeks ago, the branch has had the highest turnover per sq.m. of the chain’s 11 branches in Israel.
Published by Globes [online], Israel business news - www.globes.co.il - on September 29, 2005