The craft beer brewer, which produces Punk IPA and Elvis Juice among its many brews, currently operates more than 100 bars and hotels across the world and is plotting to open 200 more in key markets during the next seven years.
These include new openings this year in India, UK, Italy, Netherlands, Australia, USA and Thailand – as well as the opening of the first US franchise location in Denver, Colorado. In the coming years, new locations are also planned in China and South Korea.
Within the next five years, the craft brewer anticipates its total system revenue from bars (which includes its owned bars and franchise locations) to exceed £1bn.
BrewDog has identified India as a key growth market and has already taken steps to brew locally and is opening five new sites in the country by the end of 2023. Over the next five years, BrewDog anticipates it will have opened 25 new bars across the country.
Most ambitious bars
BrewDog chief executive James Watt said: “Fifteen years ago, we opened our first flagship venue in Aberdeen and, since then, we have opened over 100 venues across the globe.
“Last year, we opened our two most ambitious bars yet in Las Vegas and Waterloo, and in a tough economic climate both have vastly exceeded our expectations.
“The success of our new landmark locations is testament to our strategy of investing in high footfall locations and creating unique environments that redefine the bar experience – everything from coffee shops and workspaces, to hidden cocktail bars, podcast studios, ping pong, bowling and our own beer school. In some locations we even have a microbrewery on site, so our customers can learn to brew for themselves.
“Our goal now, over the next decade, is to become one of the world’s leading breweries with people, planet and quality beer at its heart. That’s why we are doubling down on moving the needle for craft beer. This is not about winning in craft – this is about changing the world of beer forever.”
BrewDog said the openings of flagship sites in London Waterloo and Las Vegas, in the fourth quarter of 2022 have “exceeded expectations” with BrewDog Waterloo serving more than 15,000 people per week.
Flagship sites deliver revenue boost
In 2022, revenue from BrewDog bars grew by £44m (up 68% year on year), with Las Vegas and Waterloo delivering £5.5m of revenue in the final quarter of the year but the company also reported in June, it had suffered an operating loss of £24m.
In 2023, BrewDog expects to see bar revenues grow by a further £26m (a rise of 25% year on year), with Las Vegas and Waterloo representing £20m of this growth.
Earlier this year BrewDog announced it has partnered with SSP Group, a leading operator of food and beverage outlets in travel locations worldwide, to bring craft beer to various travel locations in the UK – the first of which will be a new opening at London Gatwick in December 2023.
The announcement forms part of BrewDog’s Future Growth Blueprint, which outlines plans to build one of the world’s leading beer brands over the next 10 years – building on the company’s Blueprint launched in 2022 to mark the company’s 15th anniversary.
