Pret A Manger has unveiled plans to double the size of its business within the next five years by growing its shop estate, expanding into new international markets and investing in new digital capabilities.
Backed by a £100 million net war chest from owner JAB and Pret founder Sinclair Beecham, the plans are part of the company’s next phase of its transformation plan.
Pret first embarked on its transformation programme during the summer of 2020 after sales fell during the early stages of the coronavirus pandemic. In accounts filed at Companies House, the company posted an operating loss after tax and total comprehensive income of £256.5 million in the year.
In a statement, JAB said trade is now approaching pre-pandemic levels following the launch of new initiatives such as a coffee subscription service and the roll out of new retail partnerships with the likes of Tesco, Sainsburys and Amazon in which it sells bake-at-home frozen products, granolas, coffee and barista coffee beans.
The new plans include continuing to develop its menu and transforming its digital footprint, as well as expanding its UK shop estate by opening more than 100 shops in the next two years, most of which will be situated in regional and suburban areas.
In addition, Pret signed its first major franchise partnership over the summer, with further agreements expected later this year. Many of the 100 new franchised shops will be located in transport hubs and motorway service stations as Pret builds on its existing partnerships with forecourt operator MFG and motorway services operator Moto.
