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LIFESTYLE - COMPANY NEWS

Peet's Coffee Unveils Its First-Ever International Coffeebar in Shanghai

Monday, November 13, 2017

Peet's Coffee Shanghai, China Flagship Coffeebar situated at 9 Donghu Lu

LIFESTYLE - COMPANY NEWS

Source : Peet's Coffee

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Peet's Coffee®, The Original Craft Coffee™, announced the grand opening of its first-ever international location with the debut of a Shanghai, China flagship coffeebar. Situated at 9 Donghu Lu, the 3,900-square foot coffeebar will operate an in-house roastery that will maintain the company's high-quality standards while ensuring that the freshest beans are made available to Chinese consumers. The new coffeebar also marks the formation of Peet's Coffee China, an independently-run joint venture formed by Peet's Coffee and Hillhouse Capital and led by Vivian Zhang, CEO, Peet's China. Peet's also announced the addition to its China Board of Directors of Shawn Conway, Chief Operating Officer at Peet's Coffee, Sam Su, an Operating Partner at Hillhouse and the former Chairman and CEO of Yum China, and David Rhee, a Hillhouse Partner, along with executives from the Peet's Coffee team.

"Entering China underscores how Peet's has grown systematically since going private in 2012 as the company has delivered consistent, double-digit growth while evolving its omni-channel model comprised of several super premium brands, product formats, and geographies," said Shawn Conway. "Expanding internationally is a natural progression of our United States success and Peet's recognizes that China is a fast-growing market with a flourishing base of coffee lovers seeking distinctive experiences. We are very excited by China's coffee market momentum and for the opportunity to cater to their young consumers eager to discover exceptionally fresh, hand-roasted coffee."

"We are excited to bring Peet's wonderful tradition of premium craft coffees to China," said Lei Zhang, Chairman and CEO of Hillhouse Capital. "We believe Chinese consumers deserve the highest quality products and Peet's offers this in the form of some of the best coffee in the world."

Catering to "Coffee First" In China

As the vanguard of the craft coffee movement, Peet's has put Coffee First™ for over 50 years by sourcing the world's best beans, hand-roasting them in small batches, and preparing delicious handcrafted beverages.

"In response to the growing demand in China for premium craft coffee, Peet's Coffee is thrilled to bring to the region its handcrafted mastery and to welcome new fans into the Peetnik community," said Vivian Zhang. "When Alfred Peet opened his first coffeebar in Berkeley, California in 1966, he established our long-standing commitment to roasting the highest-quality coffee and Peet's continues to stay true to that in China. A coffeebar that lives up to that approach offers a unique destination for adventurous coffee connoisseurs wanting to discover and enjoy the best of the best from experts who have spent over fifty years perfecting their craft."

Peet's Roasters in China will fresh-roast each batch at the Donghu Lu flagship, continuing Peet's tradition of craft roasted coffee. This sensory approach relies on sight, smell and sound to ensure each batch is roasted to perfection. Peet's China Roasters completed an extensive apprenticeship program at Peet's LEED® Gold certified roastery in Alameda, California with John Niccolini, Head Roaster, Peet's Coffee.





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