Crepeaffaire, the all-day creperie concept, has reported a 20% increase in like-for-like sales in the first quarter of 2016 as it gears up for major expansion.
Founder Daniel Spinath told MCA the group, which is about to open its 14th site – in Canary Wharf – has signed up a unit in intu’s Eldon Square centre in Newcastle and is also closing in on two or three sites in central London. It is also hopeful of securing sites in Brighton and Watford this year.
Spinath said the group is on track to launch a separate company – Crepe and Go – to offer hot grab and go options from kiosks in travel hubs, with a launch earmarked for the autumn.
It comes as the group reported net sales rising 28% to £3m for the year ending 31 December with group EBITDA (before head office costs) rising 73% to £720k. In Q1 sales were up 34% on the previous year and 20% on a like-for-like basis. Spinath told MCA Q2 had also started brightly.
He said: “Our quality initiatives, refurbishment programme and organisational changes have been key in achieving these results. Our new sites (Islington, Bristol, Birmingham, Amsterdam, Kuwait) have been very well received. And we’ve been off to a great start in 2016, with new product ranges and a strong pipeline of openings foreseen in the UK and abroad.”
As well as growth in the UK, the group is looking to add another two or three sites in the Netherlands and has ambitious plans for expansion in the Middle East.
Spinath said: “There is real appetite for our products in a variety of formats and locations. Crêpes are the optimum versatile envelopes for all kinds of fillings and meal occasions. We’ve only just begun.”
