Starbucks accelerates growth plan

Starbucks says Asia Pacific will continue to be the fastest growing market in 2013, revealing ambitious growth plans for the region.

John Culver, president of Starbucks China and Asia Pacific, said the store count in the region will reach 4000 by the end of 2013, including 1000 in China, 1000 in Japan, 500 in Korea and its first store in Vietnam.

Culver highlighted China as the company’s most successful new market entry to date, and announced that China is expected to become Starbucks largest market outside of the US in 2014 and is on track to have 1500 stores in 70 cities in 2015.

Having opened its first three stores in India in Mumbai since October, Starbucks plans to debut in Delhi in early 2013.

“Starbucks’ business and brand have never been healthier, and as a company we have never been better positioned to execute our global, multi-channel growth agenda,” said Starbucks chairman, president and CEO Howard Schultz.

Globally, Starbucks will have more than 20,000 retail stores in six continents by 2014 and more than 200,000 points of global CPG distribution by 2015.

GB

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