Romanian coffee shop chain Ted's Coffee, founded by local entrepreneur Vasi Andreica, continues its expansion by opening two new units in Bucharest.

One of the units is located in the Tineretului neighborhood and the other one in the Ana Tower building near Romexpo.

The network thus reaches 38 units, compared to 31 cafes at the end of 2019. In 2020, the chain opened nine cafes and closed two existing locations.

On average, the turnover of Romanian HoReCa companies contracted by just over 30% in January-October this year, and the indoor restaurants were among the worst-hit unless they relied on deliveries or takeaway solutions (the latter more fit to coffee shops).

"We hope that the situation will start to improve in March 2021. Today we generate significant operating losses, and we look with confidence at the grants promised by the Government. Regarding the expansion plans on this segment, we consider that opportunities will appear. For example, in the first quarter of 2021, we will open a new street cafe in Romana Square in Bucharest, with a more elaborate concept," said Vasi Andreica, Ziarul Financiar reported.

Ted's newest unit - a street cafe with an area of 140 square meters, was opened on December 17, at the intersection of Gheorghe Sincai and Tineretului boulevards, after an investment of EUR 110,000.

The other unit opened in Bucharest is located in the Ana Tower project, close to Romexpo. The cafe has an area of 60 sqm, plus an outdoor terrace of the same size and required an investment of EUR 65,000.

andrei@romania-insider.com

(Photo source: Vlad Ispas/Dreamstime.com)