The 2016 revenue of Columbia's Juan Valdez coffee shop chain

According to the Colombian Times on April 3, the financial report of Juan Valdez, a famous coffee shop chain in Colombia, showed that its revenue reached 246 billion pesos ($85.5 million) in 2016, up 19% from the same period last year.

Columbia Coffee Promotion (Procafecol), which promotes Juan Valdez's business, said in a report that Juan Valdez was further consolidating its position in domestic and foreign markets. The cost of sales in 2016 was 32.0% of the total revenue, a decrease of 1.4 percentage points over the previous year, while administrative expenses accounted for 4.5% of the total revenue in 2016, a decrease of 0.4 percentage points over the previous year. In 2016, 26 new stores (including 4 franchise stores) were opened in Colombia, with a total of 252 stores in the country. In 2016, overseas business expanded to 115 stores in 16 countries. The report also said that the main challenge facing Juan Valdez is to ensure the loyalty of customers, especially young customers, through the upgrading of consumption patterns.