Caffe Nero to increase arts link

Caffe Nero says trading is ahead of budget

Coffee chain Caffe Nero is to increase its sponsorship of the arts.

Fresh from sponsoring the Turner in Venice exhibition at the Tate Britain, chairman Gerry Ford said the company wished to link its brand more closely with other cultural events.

He was speaking ahead of Caffe Nero's AGM, and also said trading was ahead of budget and in line with expectations.

The Italian-style chain is on target to have 150 outlets in operation across the UK by the start of next year.

Encouraging start

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Mr Ford said he was particularly encouraged by the performance of the 14 Caffe Nero units that have opened since the end of its financial year in August.

"The group has had an encouraging start to trading and the directors remain confident of delivering another year of successful growth to build on the success of the past," he said.

"Trading remains in line with market expectations and has continued to be ahead of budget throughout September and October."

Mr Ford added that the company had been delighted at "the success and visibility" of its brand initiative with the Turner in Britain exhibition.

Cultural events

"We will be looking to link the Caffe Nero brand more closely in future with quality arts and cultural events of this kind," he said.

A spokesman for Caffe Nero said the company had been involved in arts sponsorship from its beginning.

"We feel it is of interest to our customers, and it is certainly of interest to us," he said.

"It is fun and rewarding."

From five coffee bars in London in 1997, the company today has outlets in 38 towns across the UK, and is listed on the London Stock Exchange.

Last year it tried - but failed - to buy rival Coffee Republic.