But First, Coffee: How Alfred Is Changing the Café Business
*By Carlo Versano*
In 2013, Joshua Zad founded Alfred with an odd business plan for a coffee shop: the coffee would come second.
Zad, also the company's CEO, told Cheddar that his idea for an experiential, design-focused coffee house ー which is now right on trend ー was far outside the mainstream just a few years ago.
Borrowing from his background in commercial real estate, Zad took a "real estate perspective first" ー finding neglected neighborhoods or storefronts near popular destinations ー and set up shops with a "worn-in" and "cozy" look and feel, populated by baristas decked out in Rag & Bone aprons that have become Alfred's hallmark.
Specialty coffee has been a growing segment ever since Starbucks ($SBUX) convinced consumers it wasn't outlandish to spend $4 on a cup of joe. But it has mainly been the realm of hipster-run shops with Scandinavian minimalist decor ー outposts where baristas would focus a laser-like attention on each order.
Alfred turned that on its head, Zad said.
Alfred's aesthetic (its tagline, "But first, coffee", has become its own hashtag on social media) is a hit among celebrities and influencers on Instagram, owned by Facebook ($FB). Zad took it even further by selling a different kind of real estate: the shop's coffee cup sleeves. Those sleeves ー with design collaborations from Disney ($DIS), apparel brand Lululemon ($LULU), dating site Bumble, and local artists ー are now collectibles in their own right. And they're just another way to get people in the door ー the key for a volume business like coffee.
The fast-growing chain now has 12 locations throughout Los Angeles and Japan, with as many as 15 more on the way for L.A., according to Zad. That includes the Alfred Tea Room, which expands the concept for tea drinkers, a segment of the market Zad said has long been neglected.
"Coffee is having a moment," he said. "But tea is not far behind and is having a renaissance of its own."
For full interview [click here](https://cheddar.com/videos/alfred-coffee-founder-talks-iconic-brand).
The victims from the USA gymnastics sexual abuse scandal continue to seek justice. Survivors of Larry Nassar are seeking more than one-billion dollars from the FBI for failing to stop the convicted sports doctor when the agency first received allegations. According to a report released by the Justice Department's Inspector General, FBI agents knew
in July of 2015 that Nassar was accused of abusing gymnasts; however, Nassar wasn't arrested until December of 2016. The group that filed the claim includes Olympic medalist Simone Biles and around 90 other women. Louise Radnofsky, sports reporter at The Wall Street Journal, joins Cheddar News' Closing Bell to discuss.
A controversial professional golf tour backed by Saudi Arabia tees off on Thursday. Today, two-time Major winner Dustin Johnson announced he's resigned from the PGA Tour ahead of headlining the Saudi-backed tour, called the LIV Golf Invitation Series. The announcement comes as the PGA tour has threatened disciplinary action for its golfers who take part in the Saudi golf league event, which will also feature notable golf stars like Phil Mickelson and Sergio Garcia; however, LIV Golf's CEO, Greg Norman, told The Washington Post that Tiger Woods rejected a contract worth 'high nine digits' to play in the tour. Chris Bumbaca, reporter for USA Today Sports, joins Cheddar News' Closing Bell to discuss.
CreditCards.com senior industry analyst Ted Rossman compares the Apple Pay Later offering to similar four-step processes at Affirm and Klarna, and says this is a way for the tech giant to dive deeper into the financial industry.
Tech analyst Rene Ritchie discusses new EU legislation that will force iPhones to use a USB-C charger in fall 2024 and what that means for Apple's strategy in Europe.
Catching you up on the stories you need to know this morning, mass shooting victims testify on Capitol Hill, the White House outlines its plan to vaccinate kids younger than five years old, and we break down how to protect yourself from monkeypox.
There are now over 1,000 plant-based restaurants in the U.S. It's clear that people are hungry for vegan alternatives at restaurants nationwide. However, when it comes to pizza, vegan options don't have the best reputation. NUMU Food Group is looking to change that with its brand new vegan mozzarella. Mike Pytlinski, CEO of NUMU Food Group, joins Cheddar News to discuss.
Tattoo artist Katrina "Kat Tat" Jackson, famous for starring in the VH1 hit series "Black Ink Crew: Chicago," is also the first Black woman to own a tattoo shop in Beverly Hills. She joined Cheddar News to discuss her trailblazing work, the stigma BIPOC tattoo artists face in the industry, and the way the space has changed for artists of color since her start. "In the beginning, I remember walking into a tattoo shop just like, hey, I wanna learn, I wanna be a tattoo artist and kind of just being laughed at, not taken seriously," she said. "Even with the tattoo conventions, a lot of African American tattoo artists were almost scared to go to conventions because it's not a welcoming environment."
