WORLD OF MOUTHS: PATACHON first Press Release
August 10, 2012 § Leave a comment
PATACHON Cafés & Bars closes its initial round of financing to launch the first chain of French cafés in China
SHANGHAI, August 3rd, 2012/ — PATACHON closed a USD850,000 Series A financing, with an initial close on Wednesday, August 1st.
PATACHON is a premium chain of coffee shops and bars with a French atmosphere. The coffee shop and bar industry is growing double digits in China with expected consumption of coffee to triple in the next 3 years. Wine already surpassed the local baijiu as the leading alcohol in China in 2011.
The capital will fuel PATACHON’s first three outlets in Shanghai, including design, branding and marketing of the new chain. “We are proud to bring a new, premium experience to Chinese consumers. Their sophistication and appetite for novelty is a perfect fit for the French Café concept,” said Charles Belin, PATACHON CEO.
Representing six countries, the investors include professionals from the food and beverage, as well as the marketing and media industries. “The broad range of expertise that our investors bring to the table is a fantastic asset for PATACHON” said Frederic Nugeron, PATACHON Chairman; “We now have access to resources that are unique in the industry.”
In 2013, a Series B financing will finance the expansion of PATACHON to major Chinese cities outside Shanghai, with a target of 15 cafés in 2014.
PATACHON Cafés & Bars is the first chain of French cafés in China, serving coffee, tea as well as alcoholic beverages in a modern environment. The company was founded in 2012 by a group of friends passionate about and experienced in the food and beverage industry.
PATACHON will open its first venue in Shanghai in October 2012, with two more coming by the end of the year. The company will expand to 6 shops in 2013 and 15 shops in major Chinese cities in 2014.
For more information, visit http://www.patachoncafe.com
Contact: Helene Hu +86 135-2408-6538, firstname.lastname@example.org
SOURCE: PATACHON Cafés & Bars