Caffe Nero urges UK Chancellor to support youth employment

Caffe Nero has become the largest independent coffee chain in Europe, boasting 1,100 stores across 11 countries, with 700 located in the UK. The company started 28 years ago, and its founder, Gerry Ford, believes the British coffee culture has significantly evolved since then. Ford notes that British customers now seek higher-quality coffee options. Caffe Nero is introducing "single origin" coffee, sourced from specific farms, starting with beans from Colombia. This approach is intended to appeal to more discerning coffee drinkers. Ford states that while these coffees are more expensive, the quality justifies the price. Despite the ongoing cost-of-living crisis, Caffe Nero reported a 11.4% increase in sales in the UK for the first half of the previous year, reaching £185.4 million. He points out that enjoying a coffee can be a small luxury for many customers during tough times and that coffee shops offer a relatively inexpensive space to relax. Ford also expressed concerns about rising coffee prices due to weather and global uncertainties impacting commodity markets. He hopes these increases will not force him to raise prices for customers. Looking to the future, Caffe Nero plans to open around 90 new stores each year, with half in the UK and the rest abroad. Turkey, which has around 112 stores, is the second-largest market after the UK. Ford emphasizes the importance of creating job opportunities for young people and believes that more support from the government could benefit businesses and help reduce unemployment among youth. He feels the recent budget measures introduced by Chancellor Rachel Reeves could have been more favorable for businesses. Ford believes that by nurturing young talent and creating pathways for career advancement, Caffe Nero can not only contribute to the economy but also ensure its own success in the long term.