“This year we have opened seven cafes, including franchised ones, in Lithuania, and last year – nine cafes, but we do not plan to pursue faster expansion. The goal for this year and next is to gain a foothold in Latvia,” Keturi Kambariai CEO, Vygantas Makselė, told the daily.
The company plans to open the same number of cafes in Riga as it has in Vilnius. Keturi Kambariai now runs five cafes in Riga and is about to open a sixth one.
According to data from the Center of Registers, the earnings of Keturi Kambariai shrank last year by 33.3 percent, to 0.2 million litas (EUR 0.06m), from 0.3 million litas a year before. Its sales revenues rose by 26.7 percent, year-on-year, to 5.7 million litas.