Dutch Bros CEO Christine Barone outlined the coffee chain’s strategic expansion plans during an interview with CNBC’s Jim Cramer on Friday, noting that the Oregon-based company may take some time before establishing stores in the Northeast.
Barone explained that Dutch Bros is expanding in a “contiguous” manner, focusing on growth in neighboring states. “We’re really growing in a contiguous way, so that we’re growing across states that are next to each other,” she stated. The company recently entered Florida, and Barone emphasized that there’s significant room for expansion before moving into the Northeast. “We will be there, but it’ll be a little while,” she added.
Currently, Dutch Bros operates in 18 states across the West Coast and the South, including California, Arizona, and Texas. Since going public in 2021, the company’s stock has risen by 48.97% year-to-date. This upward trend was bolstered by strong quarterly results reported Wednesday, which led to a surge in shares by over 28% on Thursday. The stock continued to rise on Friday, closing up by more than 5%.
Barone attributed the company’s expansion success to its people, sharing that Dutch Bros received 400,000 job applications this year for 11,000 open positions. She highlighted plans to open at least 160 new stores in 2025 and touched on Dutch Bros’ product strategy, which centers on iced and personalized beverages.
“Personalization has been a big part of us since the very beginning,” Barone said. “I think we’ve really built our operations and our brand around the ability to personalize really well.”
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