Caffe Nero Group has changed its name to ‘Italian Coffee Holdings’ but the new moniker won’t be reflected in the 600 stores that it operates in the UK, FEJ can reveal.
Documentation lodged with Companies House shows that the high street coffee chain received an official ‘Certificate of Incorporation in Change of Name’ on 2nd October.
The paperwork confirms that a resolution to change the name of the company was agreed and passed by its members on 31 May this year.
Caffe Nero spokesperson Laura Vallis-Wain told FEJ that the name change had no bearing on the way the brand will appear in the market.
“The name of the company has been changed so that it better reflects its position in the corporate structure. This has no implications for the stores or the operations of the business,” she explained.
Caffe Nero’s accounts show that it operated 613 stores at the end of its last fiscal year, although its directors believe there is potential for at least 750 outlets in the UK market. In its last full year it opened 34 stores and closed three, while it has targeted 38 store openings in 2017.
The firm made an operating profit of £25m on sales of £258m in its last financial year.