- Portafolio -
The Colombian coffee-shop chain Juan Valdez posted sales of Peso$49.686bil in 2007. The chain, run by the Promotora de Cafe Colombia (Procafecol), is enjoying average quarterly growth of 21.5%, no less. In 2007, the multinational group opened 57 new stores. Juan Valdez has run up bigger losses as its operation expands but the losses are now a smaller percentage of sales as efficiency grows.
The Colombian coffee-shop chain Juan Valdez posted sales of Peso$49.686bil in 2007. The chain, run by the Promotora de Cafe Colombia (Procafecol), is enjoying average quarterly growth of 21.5%, no less. In 2006, Juan Valdez posted sales of Peso$23.513bil. In 2007, the multinational group opened 57 new stores. Juan Valdez has run up bigger losses as its operation expands but the losses are now a smaller percentage of sales as efficiency grows: in 2006, losses came to Peso$8.709bil; in 2007, to Peso$13.908bil; as a percentage of sales, the losses have come down from 37% to 28%, exceeding Procafecol expectations. Operational losses are up from Peso$9.772bil to Peso$l3.093bil but down as a percentage of sales from 42% to 26%. Procafecol has found backing from the International Finance Corporation (IFC) and will offer it three million shares whilst the IFC will invest US$20mil in the operation. The Federacion de Cafeteros capitalised Procafecol in December to the tune of Peso$15bil.