Blank Street Coffee relied on low costs to grow — now it's betting on subscriptions
Publishing timestamp: 2024-01-05 11:24:12
Summary
Blank Street Coffee, a growing coffee chain with locations in New York City, Boston, Washington, D.C., and London, has launched a subscription program called Blank Street Regulars. The program, which has about 5,000 members and a waiting list of 4,000, offers customers the opportunity to save money on their coffee purchases. The chain aims to eventually have the subscription program account for 30% to 40% of its customers. The company has raised $100 million in funding and has a valuation of $177 million. The article also mentions the challenges and criticisms faced by the chain, as well as its plans for expansion and improvements to accommodate the subscription program.
Sentiment: NEUTRAL
Tickers: SBUX,
Keywords: restaurants, business, business news, retail industry, starbucks corp, breaking news: business, coffee, lifestyle,
Source: https://www.cnbc.com/2024/01/05/blank-street-coffee-bets-on-subscription-program.html