From Zero to UAE Coffee Hero
Coffee Planet, a producer of fresh gourmet coffee that claims to have created the sector in the UAE, has been recognised for in the ‘Industry Achievement for Retail’ category.
Having brought the industry from inexistence to where it is today – to a point where four million Coffee Planet cups will have been consumed in 2010 – the coffee firm is proud of its achievement.
In order to reach its goal, the company had to take control of its supply chain, including setting up its own roasting plant, the sourcing of its materials, negotiating agreements on the best coffee-making machines and ensuring sufficient training for a strong service and maintenance team.
Not only this, but in 2010 Coffee Planet also introduced its own retail brand as well as small stores with the vision of expanding its presence across the UAE. The company is now also a supplier of coffee equipment as well as coffee blends for the hotel, office, domestic and other retail markets.
Despite the success that Coffee Planet has been able to engineer for itself, the main challenge has been insufficient funding. Banks and other lending institutions are used to funding large-scale construction projects. However, financial support for small and medium sized enterprises (SMEs) has not been so forthcoming. This is changing and banks now recognise the increasing role that SMEs have to play, the Abu Dhabi Commercial Bank being one of them.
Growing 17 per cent in 2009 despite the recession and anticipating growth of 25 per cent in 2010, Coffee Planet hopes to further growth with the support of its new lender.