Dutch Bros to open 1,000 new shops by 2029; expands long-term goal to 7,000
Dutch Bros is getting even more bullish on store expansion. It's also entering the consumer packaged goods market.
The fast-growing drive-thru coffee chain, which unveiled its 1,000th outpost in February, says its goal of reaching 2,029 shops in 2029. Looking further out, Dutch Bros now sees the potential for 7,000-plus locations nationwide, up from its previous estimate of 4,000 shops. (In February, the company said it expected to open "at least" 160 new shops in 2025.)
[READ MORE: Dutch Bros reports strong Q4 growth; expects to open 'at least' 160 new shops in 2025]
The Dutch Bros management team addressed the company’s long-term growth goals at its Investor Day meeting, which was held at its support center in Tempe, Ariz.
“Led by field operations teams deeply rooted in our culture and hungry to grow, and supported by a leadership team with complementary skills and first-hand knowledge of scale, we are well positioned to deliver sustainable, long-term value while staying true to our mission of making a massive difference, one cup at a time,” said Dutch Bros president and CEO Christine Barone.
In other long-term goals, Dutch Bros projects annual revenue growth of approximately 20%, supported by annual new shop growth in the mid-teens and low-single digit same shop sales growth. In an update on Dutch Bros’ first quarter, Barone said same-store sales increased 4.6% through March 24, compared to the same period in 2024.
Also during the first quarter, Dutch Bros named Brian Cahoe as chief development officer, responsible for overseeing the company’s new shop growth and development strategy. He joins the company with 24 years experience at quick-serve giant Yum! Brands, where he most recently (from 2015 to 2023) served as served as chief development officer for KFC U.S.
Entering CPG Market
Separately, Dutch Bros announced its plans to enter the consumer packaged goods market. In partnership with Trilliant Food & Nutrition, the chain plans to launch a line of packaged coffee and related products to be sold in retail outlets. (Trilliant is one of the largest coffee manufacturers of single-serve cup and ready-to-drink coffee in the U.S.)
“We believe this offering will build brand awareness, especially in newer markets by providing exposure to new potential customers,” said Barone. “This new channel, structured as a licensing agreement, will allow us to share our passion for exceptional beverages with a wider audience, and we are confident that our dedication to quality and innovation will resonate with consumers. “
Barone added that the new venture will also help amplify Dutch Bros’ community impact.
“A portion of the proceeds from chain’s new business will be donated to the Dutch Bros Foundation to help support compelling futures for those in the communities we serve,” she said.
