Aussie coffee subscription business Three Thousand Thieves raises $500,000 to expand into China
"The growth in China is going to be massive," says Athan Didaskalou.
The founder of Three Thousand Thieves is sitting in the Fitzroy warehouse he operates his coffee subscription business from preparing to launch in China in January.
"I feel like a lot of Australian business peoples dream to tackle China," he says. "It's an interesting challenge you know, the scale is there. I know how much interest there is from the Chinese community when it comes to speciality coffee."
Networking and six degrees of separation
Three Thousand Thieves entry into China is being funded by a $500,000 investment from Chinese private investors Marvin Ye and Lin Lee.
Didaskalou attracted the investment through "networking and conversations and six degrees of separation".
Three Thousand Thieves is Australia's largest coffee subscription business offering customers a monthly delivery of a new Australian artisan coffee roaster.
It's growing around 65 per cent a year with a presence in both Australia and Singapore and a turnover of around $1 million.
"This idea started up as a bit of an experiment, we thought subscription models are quite interesting and developing a bit of an e-commerce business is quite interesting," Didaskalou says. "It was a great way to experiment with the upcoming roasting scene in Melbourne. I'd worked in coffee in a past life so it sort of made sense. Melbourne has more roasters per capita than any other city in the world. We are really focused on the art and craft of roasting and producing great quality coffee from beans around the world." Read more
Cara Waters - Brisbane Times - 3 Dec 2017