Black Rifle, which was created by veterans and bills itself as pro-police, pro-military, and pro-Second Amendment, also says it hopes to add 15 to 20 new retail stores to the 16 it already operates.
The Salt Lake City-headquartered company reported that fourth-quarter revenue jumped 20% to $71.8 million from $59.9 million. It increased its revenue outlook to $315 million from a previous estimate of $311 million, a 35% increase from the $205 million it took in 2021.
WATCH: JOHN LEGEND CALLS TRUMP A RACIST
Black Rifle Coffee Company is deemed a Conservative counterweight to Starbucks, which made revenues of $8.8 billion in 2021. It offers firearm-themed beverages with the names AK-47 Espresso Blend and the Murdered Out Coffee Roast.
A Thin Blue Line coffee mix is also suggested to make clear the brand’s opinion on law enforcement.
WATCH FETTERMAN REACTING TO PROTESTS WAVES
Black Rifle was created in 2014 by Evan Hafer, a Jewish veteran who served in Iraq and Afghanistan as a Green Beret and a CIA contractor.
RUSSIAN COURT DENIES EVAN GERSHOVICH'S APPEAL, WHAT'S NEXT FOR THE WSJ REPORTER?
The upstart coffee company faces stiff competition from mainstays, including Starbucks, Dunkin’ Brands, and Tim Hortons. Still, Co-Chief Executive Tom Davin said the company is placid against the competition.
“The U.S. coffee market is over $45 billion, and we estimate our serviceable addressable market to be $28 billion,” the co-CEO said. “This includes 100 million U.S. customers who are aligned with our brand values. Note that our $233 million revenue last year points to less than 1% of our serviceable addressable market. So we are positioned for many years of sustained growth.”
HRMMM...RUSSIAN PRIEST THAT LEAD NAVALNY'S MEMORIAL SERVICE SUDDENLY 'DISMISSED' BY MOSCOW CHURCH
Davin added that the company currently has 287,000 subscribers to its coffee club and that the percentage of people changing to rival offerings was low at 3% to 4%.
Black Rifle doesn’t just sell coffee and coffee club subscriptions but also apparel and other merchandise featuring its logo.
SQUATTERS BEWARE AS GEORGIA GOVERNOR SIGNS TOUGH NEW LAW
The company has received criticism in the past after contentious people were seen wearing their gear.
Kyle Rittenhouse, who was famously cleared of all charges after going on trial for the fatal shootings of two people at a Black Lives Matter protest in Kenosha, Wis., was photographed in a Black Rifle Coffee shirt when he posted bail in November 2020, the New York Times reported in July 2021.
EXECUTION-STYLE AMBUSH: LOS ANGELES DEPUTY ATTACKED BY NOTORIOUS GANG MEMBER
On January 6, a rioter who breached the Capitol was photographed holding sets of zip-tie handcuffs while wearing a Black Rifle Coffee hat.
Company bosses angered some of its supporters after publicly distancing themselves from Kyle Rittenhouse, but Rittenhouse was then found not guilty.
Discover alternative ideas that will make you think
Engage in mind bending debate
Earn points, rise in rank, have fun
