Starbucks plans ambitious expansion in Chinese market

Updated 2018-05-20 10:36:00 Xinhua

Starbucks has planned an ambitious expansion in the fast-growing Chinese market by doubling its number of coffee shops to 6,000 across China by fiscal 2022.

To this end, the Seattle-based coffee chain plans to build 600 new stores annually over the next five years in China's mainland, the company announced at its first-ever China Investor Conference, held in Shanghai.

Starbucks is also looking to more than triple revenue and more than double operating income in China by the end of 2022 from the 2017 levels, according to a press release from the company.

"We are committed to long-term investment in China," said Kevin Johnson, Starbucks president and chief executive officer, who expressed confidence in the company's future growth in the dynamic market.

He said the company will continue to promote coffee culture in China "where the reward will be healthy, long-term, profitable growth for decades to come."

China is the Starbucks's second-largest and fastest-growing market globally, with 3,300 stores in 141 Chinese cities currently.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 24 2019 17:55:31

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 24 2019 17:55:31

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 24 2019 17:55:31

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords