ZURICH, SWITZERLAND - Upscale European coffee company Nespresso announced last week that it has begun an accelerated expansion in the U.S., the Financial Time reports.

Nespresso CEO Richard Girardot said its U.S. sales had doubled in the past three years, and while it has become the company??s eighth-biggest market, he asserted, "We know there is big potential."

Owned by Nestlé, Nespresso is an unequivocal success story for the world??s biggest foods group (by sales).

Last year, the company recorded $3.6 billion in sales, continuing a roughly $554 million annual increase over the past four years. Girardo predicted similar growth this year, despite increased competition as well as less expensive Nespresso-compatible capsules.

As part of Nespresso??s U.S. growth strategy, the company plans to open "bar boutiques," which resemble luxury goods stores. It currently operates five outlets in North American and nine concessions in department stores or other sites.

"It seems boutique bars are indispensable in the U.S., and one must succeed there," Girardot said.