"We have 14 coffee shops in Vilnius alone, so Riga could absorb even more cafes. It seems that we have already filled all places with huge (people) flows. But we are looking at unoccupied areas," Nidas Kiuberis told BNS.
Kiuberis said that Coffee Inn does not have any major competitors in Latvia. The biggest competitor is Costa Coffee, but it is not aggressive in terms of expansion. There is also a smaller competitor, Index Cafe.
"We are regarded as a vibrant-hot brand," he said.
Kiuberis said that the company is also looking "360-degrees" at other neighboring markets.
He said that talks are currently underway with BaltCap, the biggest private and venture capital fund manager in the Baltic countries, which plans to buy a 45.26-percent stake in Keturi Kambariai, the owner of Coffee Inn, through its Lithuania SME Fund.
Coffee Inn has 22 coffee shops in Lithuania and five in Riga.
Keturi Kambariai's revenues increased by 27 percent last year compared with 2010 to 5.7 million litas (EUR 1.65m). The company's profit fell by 33 percent to 200,000 litas, according to data from the Center of Registers.