Coffee franchise Compose Coffee announced on the 3rd that it will increase the price of iced Americano by 300 won starting from the 13th. However, the price of hot Americano will remain unchanged.
According to Compose Coffee, the price of iced Americano will rise from 1,500 won to 1,800 won, and decaf iced Americano will increase from 2,500 won to 2,800 won.
According to Compose Coffee, this price increase is the first since its launch in 2014, marking a 10-year gap. Compose Coffee noted that the decision to raise the price of iced Americano was made in consideration of skyrocketing coffee bean prices, which reached a record high in 48 years, along with rising raw material costs amidst a high inflation, high interest rates, and high exchange rate environment.
Kim Jin-seong, CEO of Compose Coffee, said, "The quality of affordable coffee and customer satisfaction are the most important values for Compose Coffee." He added, "While it weighs heavily on my heart to make the difficult decision of a price increase during a challenging time for everyone, we will continue to prioritize trust with our customers and will do our best to provide high-quality coffee in collaboration with our more than 2,700 nationwide franchises."