Starbucks plans expansion; eyeing 5000 stores in China by 2021

Updated On : 20 Oct , 2016 , 10:50 AM
Starbucks -File Photo
Starbucks -File Photo
New York:

US coffeehouse chain Starbucks has revealed a comprehensive five-year goal plan doubling of stores in China which can soon become its largest market.

Starbucks has seen rapid expansion in China, where it opened its first cafe 17 years ago. In 2011, the company had only 400 outlets but today has almost six times as many at 2,300.

By 2021, the company expects to have 5,000, it said in a statement. Starbucks chief executive Howard Schultz has said China could one day become the coffee chain's largest market, overtaking the US where it has some 7,500 stores.

In a sign of its hopes for the Chinese market, Starbucks also said it was promoting Belinda Wong from president to chief executive of Starbucks China.

"She will be responsible for key areas, including the vast digital and e-commerce opportunities across the market and overseeing the opening of Starbucks first international Starbucks Roastery in Shanghai in 2017," the company said.

Wong had previously held various positions for the company in Starbucks China and the Asia-Pacific region.

Having faced difficulties in penetrating markets such as Australia, Starbucks increasingly is catering to local tastes rather than exporting products sold in the US. 

First Published : Thursday, October 20, 2016 10:39 AM
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