Caffè Nero
Encyclopedia
Private company limited by shares
A private company limited by shares, usually called a private limited company , is a type of company incorporated under the laws of England and Wales, Scotland, that of certain Commonwealth countries and the Republic of Ireland...
is an Italian-style coffee shop
Coffeehouse
A coffeehouse or coffee shop is an establishment which primarily serves prepared coffee or other hot beverages. It shares some of the characteristics of a bar, and some of the characteristics of a restaurant, but it is different from a cafeteria. As the name suggests, coffeehouses focus on...
chain primarily based in the UK. It was founded in 1997 in London as the Caffe Nero Group by Gerry Ford. Currently, the company runs more than 420 shops nationwide and has expanded its operations into locations such as Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
and the United Arab Emirates
United Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
.
History
The company was founded in 1987 and sold in 1997. As a PLCPublic limited company
A public limited company is a limited liability company that sells shares to the public in United Kingdom company law, in the Republic of Ireland and Commonwealth jurisdictions....
, the company's shares were traded on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
under the symbol CFN. However, in early 2007, the company was the subject of a management buy-out and is currently in private ownership.
Products
Along with traditional espressoEspresso
Espresso is a concentrated beverage brewed by forcing a small amount of nearly boiling water under pressure through finely ground coffee. Espresso is widely known throughout the world....
based drinks, Caffè Nero stores also sell frappé latte (an iced latte) fruit booster (an iced fruit drink) and Hot Chocolate Milano, an extra sweet and thick hot chocolate drink. In summer 2006 Caffè Nero relaunched their iced drink range, the feature product being a range of premium milkshakes called Frappé-Milkshakes. Several specialty coffee based drinks were launched in 2007 these were Caramelatte (a vanilla flavored Caffé Latte served with Whipped Cream and caramel sauce topping), White Chocolate Mocha (a twist on the classic Caffé Mocha) and Espresso Con Panna (an espresso drink served with a topping of cream). The chain also has its own line of panini, pasta salads and soup dishes. Coffee beans sourced by Caffè Nero are not Fairtrade certified. The chain website states that producers are paid a premium for their coffee beans, and where possible, Caffe Nero tries to source Fairtrade beans for their blend.
The company has a reward scheme for customers: Each time a coffee is purchased, the customer's loyalty card is stamped with the 'Nero Coffee Bean Logo'. Once a card has nine stamps, the bearer is entitled to a free drink of any price.
Commercial success
Starting in London, the chain has expanded to over 400 branches throughout Britain. As a result of the chain's rapid expansion, Caffè Nero was named the twentieth fastest growing company in Europe in the 2004 Europe's 500 by Business Week magazine. The chain is also taking the brand abroad, with, as of 2010, locations in TurkeyTurkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
and the United Arab Emirates
United Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
.