- November 22, 2019 / 10 min readJill McDonald will be replacing Dominic Paul, who is stepping down after over three years at the helm.
Costa Coffee, a unit of Coca-Cola Co, has announced that Jill McDonald, former McDonald's UK Chief Executive Officer, will become its new CEO on December 2.
Jill McDonald will be replacing Dominic Paul, who is stepping down after over three years at the helm. He has led the coffee chain through a strong growth phase, along with the sale of Costa to The Coca-Cola Company.
Jennifer Mann, President of Global Ventures for The Coca-Cola Company, parent of Costa, said, “Dominic led a significant reshaping of Costa’s international footprint, the expansion of the brand across multiple new platforms and a wide-ranging reset of the core UK business strategy.”
McDonald will report to Jennifer Mann, President of global ventures for Coca-Cola.
Mann stated, “I am excited to welcome Jill to the Costa family. Her track record, depth of international experience and excitement about joining our business makes her an ideal leader to build on the great work of Dominic and the rest of the Costa team.”
McDonald added, “I have long been a fan of Costa and have watched the company grow in the UK and far beyond. I look forward to joining the Costa leadership team and building on the great foundation and growth potential in the business.”
Also Read: Coffee is More than a Trend Now
Growth Rate of the Coffee Industry
Healthy food & beverages is now a burgeoning billion-dollar industry. Despite the fast growth of bottled juices and aerated drinks, consumption of tea and coffee is going up in India, with coffee consumption being up by 6% in the last few years.
Today coffee is much popular than ever. Currently, the coffee chain market in India is valued at Rs 2750 crore and is anticipated to reach Rs 4540 crore by 2023.
Product innovation and better marketing strategy have helped coffee demand to mushroom all across the nation.
Higher demand for Coffee
Around three billions cups of coffee are being consumed every day. This number keeps on increasing with the various brands coming in to cater to the demands. People are now aware of the various notes of coffee, some prefer black, some cappuccino or some might like to have a latte. People are now also ready to pay more for a brand that grows and sells coffee sustainably.
The franchising model is certainly an easy and fail-proof way of venturing into the business world, especially in the cafe market. Consumers tend to choose an established name over a new start-up. Moreover, franchising has its whole host of benefits like low initial cost, low working capital, strong cash flow, quick break-even, large consumer base and much more.
Not just in the tier-I regions, but there is an abundance of coffee retail franchises in tier-II and III regions also. This suggests that coffee franchises are lucrative opportunities for entrepreneurs in this business.
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