The head of Colombia’s National Federation of Coffee Growers, Luis Genaro Muñoz, denied Wednesday that Colombian coffee chain Juan Valdez’s attempts at international expansion have failed.
“The model of the stores in the streets didn’t work in the U.S. and that’s why we closed most of them. But Cafe de Colombia, Juan Valdez coffee is in the supermarkets,” Muñoz said.
Muñoz added that Juan Valdez has made COP14 billion (around $7 million) profit, but did not specify the time period.
The Juan Valdez chain of coffee shops closed its Times Square branch in New York City in February but other stores in New York City remained open.
Juan Valdez also shut stores in Spain. The chain also has stores in Ecuador and Chile.
The coffee chain announced in March that it plans to open franchises across the U.S., Latin America and the Caribbean.