Starbucks Expects China to Be No. 2 Market
Starbucks Corp. Expects China to Become Its Second-Biggest Market After U.S.
Starbucks Corp. expects tea powerhouse China to eventually become the coffee chain's second-biggest market after the United States, an executive said Friday.
The company has 9,373 stores worldwide and hopes to expand to 30,000, said Martin Coles, president of the Seattle-based coffee chain's international operations. Coles didn't give a timeline for the expansion.
Coles said that Starbucks expects China to become its No. 2 market after the U.S. in the "long-term." The chain has 120 stores in China now.
"We believe that China has enormous growth potential," he said. "We see it as a major source of future growth for the company."
Starbucks was supposed to make an announcement about its China business on Friday. But at the last-minute, the company decided to delay the news for undisclosed reasons.
External Source - For the complete article click here
Source - AP
The company has 9,373 stores worldwide and hopes to expand to 30,000, said Martin Coles, president of the Seattle-based coffee chain's international operations. Coles didn't give a timeline for the expansion.
Coles said that Starbucks expects China to become its No. 2 market after the U.S. in the "long-term." The chain has 120 stores in China now.
"We believe that China has enormous growth potential," he said. "We see it as a major source of future growth for the company."
Starbucks was supposed to make an announcement about its China business on Friday. But at the last-minute, the company decided to delay the news for undisclosed reasons.
External Source - For the complete article click here
Source - AP
