Starbucks brews up big expansion plans
8 years, 4 months ago

Starbucks brews up big expansion plans

China Daily  

Employees serve customers at a Starbucks store in Fuzhou, Fujian province. ZHENG SHUAI/For China Daily CEO believes the company's business in China will someday exceed that in US Starbucks CEO Howard Schultz has made no bones about his ambition in China-to have one new Starbucks every day in China for the next five years. Howard Schultz, Starbucks CEO Provided to China Daily "What we believe, as a company, is that China will one day probably surpass the size and scale of our business in the US," said Schultz. Consultancy firm Euromonitor estimated that Starbucks had a 73.3 percent market share in China in 2015, compared to McCafe's 9.3 percent and Costa Coffee's 9 percent. Schultz said he believes that the key growth driver for Starbucks in China will still be traditional stores, despite the market's keen interest in new premium retail spaces-the Starbucks Reserve and Starbucks Roastery.

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