Latvian specialty coffee chain Kalve Coffee is expanding into Lithuania, with its first cafe set to open in Vilnius in early August. The company also plans to open additional locations across the country.
According to Lithuania’s Centre of Registers, Kalve Coffee established a company under the same name in June as part of its entry into the market.
“We are a relatively young company, and this will be Kalve’s first brand appearance in Lithuania,” Kalve Coffee CEO and co-owner Gatis Zemanis said. “We plan to open our first cafe in early August in cozy, renovated premises at 5 Vasario 16-osios Street in Vilnius. We are also actively searching for more locations.”
Zemanis said the decision to expand into Lithuania was driven by the growing community of coffee enthusiasts in Vilnius and the company’s successful initial public offering on the Nasdaq stock exchange in December 2024, which raised EUR 1.16 million.
The company was currently focused on expanding in the capital, but Zemanis said it also aimed to open cafes in other Lithuanian cities in the future.
In early July, Kalve Coffee also opened a new cafe in Tallinn, Estonia, the company said.
Kalve Coffee currently operates nine locations: five cafes and a market stall in Riga, and three cafes in Tallinn. The company also runs a coffee roastery and bakery in Riga.
According to its 2024 annual report, Kalve Coffee generated EUR 3.4 million in revenue last year – a 37% increase from EUR 2.5 million in 2023. The company reported EUR 185,800 in net profit, nearly 3.5 times higher than the previous year’s EUR 53,400.
Founded in 2017, Kalve Coffee currently employs 76 people across its network. (LRT)