French tea company expands internationally, plans tea bars
Kusmi, a gourmet tea manufacturer from France, has unveiled plans to expand rapidly beyond the local market thanks to the tea bar concept. The company anticipates revenues to reach 25 million in 2012 and hopes to become the first global luxury tea company. According to the CEO, Kusmi's sales should hit the 100 million mark in 2016, compared to just 1 million in 2005, buoyed by a changing image of tea as a fashionable beverage. The gourmet tea company currently has 21 outlets, mainly in France, and plans to open its first tea bar in Paris this year. Over the next two years, Kusmi expects to open around 30 new stores in France and beyond. It currently also has sales points in New York and Montreal.