Peet's Coffee Continues to Grow in D.C.
Getting your favorite cup of coffee just got a little easier. Peet’s Coffee signed for two new stores, one in NoMa and the other on H Street. Rappaport brokers Bill Dicksinson and Pat O’Meara represent the retailer in the D.C. market. Rappaport has represented Peet’s in this market since 2012. There are currently 22 Peet’s locations in the D.C. area.
Rappaport represented Peet’s when identifying a flagship store in Georgetown back in 2015. The Georgetown location is a two-level coffee bar that challenged Peet’s to rethink its standard design. The flagship store was the first location for Peet’s slow-bar, which allows the consumer to see certain brewing methods and learn about the process from beginning to end.
Despite heavy competition within this segment, Peet’s has sustained success with a blend of strategic site selection and optimization of demographics. Peet’s Chief Executive, Dave Burwick, said the D.C. market is the perfect fit for the brand and for those who truly love quality coffee.
Since coming to D.C., Peet’s has doubled its sales from $400 million to $800 million in 2016. With all this growth, Peet’s has planned a new East Coast manufacturing plant to make their coffee in this market even fresher. It is expected to open in 2018.
Peet’s plans to continue to expand in this market and is actively looking for new locations throughout D.C., Maryland and Virginia.