In 2023, Pret A Manger’s sales soared by 22% to reach an unprecedented £1.1 billion, marking a significant milestone powered by its strategic overseas expansion.
- Sales for Pret A Manger rose by 10% to £569 million in the first half of 2024, with same-store sales growing by 3%.
- Approximately £1 of every £4 that Pret’s customers spend now comes from outside the UK, highlighting its successful international reach.
- Franchising has become a vital revenue stream, accounting for a third of Pret’s total sales.
- The company plans to further expand its presence on the US East Coast by opening more than 10 new shops by 2026.
Pret A Manger’s sales have dramatically increased to £1.1 billion in 2023, a 22% surge attributed primarily to its robust international expansion strategy. In the first six months of 2024, Pret’s sales continued to rise, reaching £569 million, marking a growth of 10% compared to the previous year, with same-store sales rising by 3%.
The significance of Pret’s global presence is underscored by the fact that £1 in every £4 spent by its customers is now outside the UK. This international success is further bolstered by its franchising model, which now represents a third of its overall sales.
New York stands out as Pret’s largest market outside the UK, facilitated by a joint venture with franchise partner Dallas International. This partnership is part of Pret’s strategy to open over 10 new shops on the US East Coast by 2026, aiming to triple its market presence in this region over the next five years.
Domestically, Pret has broadened its reach beyond London, with 87% of new openings since January 2023 occurring outside the capital. It has also established new partnerships to expand into Scotland and Ireland.
Pano Christou, Pret’s chief executive, expressed pride in the company’s achievements over the past few years, citing the introduction of over 300 unique recipes globally and the launch of its largest range of new products in five years as key innovations. In 2024, Pret also introduced its first children’s menu, ‘Little Pret Stars’. To combat rising costs, the company adjusted its pricing strategy, including changes to its Club Pret subscription to offer more competitive prices.
Pret A Manger’s strategic focus on international expansion and innovation has positioned it for sustained growth and success.
