could be attributed largely to the coffee craze of that period, questions remained as to how far into the future the company would be able to maintain its current momentum of massive store expansion. Given the dropping rate of growth, it was predicted that the market would become much more competi- tive. Caffé Bene stores were already overcrowded in major cities; as such, it seemed wise for Caffé Bene to shift its focus from growth to maintenance if it wanted to achieve long-term sustainability. EPILOGUE Surveying the busy streets of Seoul through the heavy rain, Kim was lost deep in thought. So far, all of his prophecies had proven to be correct; he had succeeded in developing a hugely successful coffee shop chain in a brutally competitive and saturated market. Kim realized that he was now truly at a crossroads. He would soon be making the major decisions that would determine the future of Caffé Bene. ACKNOWLEDGMENTS This case was developed as part of the Brain Korea (BK) 21 Research Project sponsored by the Ministry of Education, Science, and Technology, South Korea. REFERENCES 1. Agriculture News , 2010. Korean Food White Paper. Seoul, Korea. 2. Caffé Bene official website. . 3. Coffee Bean Korea’s Financial Report, 2010. 4. Fair Trade Commission, 2011. Caffé Bene Financial Status. . Asian Case Res. J. 2015.19:203-230. Downloaded from by SIM UNIVERSITY on 03/22/17. For personal use only.
220 ACRJ 5. Hollys F&B Co.’s Financial Report, 2010. 6. Kang, D. W., 2011. Menu-visors: An attempt to standardization of coffee taste among all Caffé Bene branches. Money Today , May 4. 7. KB Financial Group, 2011. Coffee shop industry: Supply creates demand. Monthly Industry Review , June. 8. Kim, I. S., 2010. Interview with CEO Kim Sun-kwon. Maeil Economy Newspaper , September. 9. Kim, K. Y., 2011. Socio-economic representation in a cup of coffee. SERI Business Report , 113: 1 – 14. 10. Kwon, S. W., Kim, G. H. and Park, H. J., 2011. Caffé Bene causes sensation in the coffee shop market. Corporate Management Way, 2011. Seoul, Korea, FKI Media. 11. Lee, S. H., 2011. Caffé Bene’s Success Story . Seoul, Korea, Money Plus. 12. Lee, Y. H., 2009. Caffé Bene received the grand prize at the Korea Economic Daily’s Awards in 2009. Korea Economic Daily , December 28. 13. Starbucks Coffee Korea’s Financial Statement, 2010. 14. Tom N Toms’ Financial Report, 2010.
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