30th September 2008
Published: Monday, September 29, 2008
Source: http://www.stjshopping.co.uk/news_details.aspx?NewsID=80
St John’s Shopping Centre, Perth has announced that Coffee Republic Deli is due to open this month at the King Edward Street entrance to the shopping mall.
The Coffee Republic Deli is the first of its kind outside of Edinburgh and Glasgow, and the fourth of its kind in Scotland and will offer customers a unique combination of fresh deli food, award winning coffee blends and the opportunity to enjoy their Coffee Republic Deli experience either inside the shopping centre or on piazza style seating in St John’s Square on Kind Edward Street.
Siobhan McConnell, manager of St John’s Shopping Centre, said “The Coffee Republic Deli has a prime location at the main entrance to St John’s Shopping Centre. It is an innovative, cosmopolitan and well loved brand with excellent products and service and I believe it will complement and add strength and vitality to our city centre.”
Coffee Republic was founded in 1995 by brother and sister entrepreneurial team, Bobby and Sahar Hashemi. Giving up highly paid professional jobs, she as a lawyer in London and he an investment banker in New York, they staked everything on a dream – to create the best coffee chain in Britain.
The Coffee Republic Deli is an extension of that original concept is the one and only registered Deli chain in the UK. Focussing on great, hand made, fresh food, lots of fresh ingredients and choice in our recipes, friendly and helpful service, all wrapped up in a welcoming environment.
For further information about the developments at St John’s Shopping Centre please log on to www.stjshopping.co.uk
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“Coming together is a beginning, staying together is progress, and working together is success” - Henry Ford. An apt dedication to the Coffee Republic rebel shareholders.
This blog is independently written and not affiliated with Coffee Republic Plc in any way
“Coming together is a beginning, staying together is progress, and working together is success” - Henry Ford. An apt dedication to the Coffee Republic rebel shareholders.
*Last blog update*
28th January 2009
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International operating stores
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Coffee Republic reborn
Coffee Republic was formed in 1995 by Bobby and Sahar Hashemi, a brother and sister who wanted to bring quality coffee from New York to Britain. They saw the opportunity for exporting the coffee bar concept to Britain. Over the past twelve years the company has been through several phases, but is now taking a radically new direction, and embarking on what may be its most exciting phase to date.
Bobby Hashemi’s instinct had been correct, and in the eight years after establishing the first ever Coffee Republic on South Molton Street in London, the company grew rapidly, growing to more than a hundred outlets and achieved a stockmarket listing. However, the company never made a profit. In the financial year ending March 2006, from a turnover of almost £15 million, the company made a loss of more than £1.4 million.
The need for change
While investors were prepared to forgive a company that was growing rapidly, their patience began to wear thin once the company started to contract as it did from 2003. The catalyst for change came from Steven Bartlett, an established retail entrepreneur. He believed that Coffee Republic could succeed in Plymouth, where he was living, and so he applied for a franchise.
He was surprised to be turned down, and so he applied again. Having been rebuffed a second time, he was much less surprised to discover an online chatroom full of highly disgruntled Coffee Republic shareholders. He became convinced that the company was not being run as well as it could and he resolved to do something about it.
Together with Peter Breach, Bartlett began to acquire shares in the company, and by September 2006, the pair owned 26 per cent of the company. Through the online chatroom they had gathered the support of a further 26 per cent of the shareholding, and so requisitioned an Extraordinary General Meeting to remove the company’s senior management.
The response from the Board was to ask Breach and Bartlett to withdraw the requisition in return for being installed as chairman and chief executive respectively. They agreed and took up their new positions at the end of October 2006.
Bobby Hashemi’s instinct had been correct, and in the eight years after establishing the first ever Coffee Republic on South Molton Street in London, the company grew rapidly, growing to more than a hundred outlets and achieved a stockmarket listing. However, the company never made a profit. In the financial year ending March 2006, from a turnover of almost £15 million, the company made a loss of more than £1.4 million.
The need for change
While investors were prepared to forgive a company that was growing rapidly, their patience began to wear thin once the company started to contract as it did from 2003. The catalyst for change came from Steven Bartlett, an established retail entrepreneur. He believed that Coffee Republic could succeed in Plymouth, where he was living, and so he applied for a franchise.
He was surprised to be turned down, and so he applied again. Having been rebuffed a second time, he was much less surprised to discover an online chatroom full of highly disgruntled Coffee Republic shareholders. He became convinced that the company was not being run as well as it could and he resolved to do something about it.
Together with Peter Breach, Bartlett began to acquire shares in the company, and by September 2006, the pair owned 26 per cent of the company. Through the online chatroom they had gathered the support of a further 26 per cent of the shareholding, and so requisitioned an Extraordinary General Meeting to remove the company’s senior management.
The response from the Board was to ask Breach and Bartlett to withdraw the requisition in return for being installed as chairman and chief executive respectively. They agreed and took up their new positions at the end of October 2006.
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