20 July 2018

Starbucks to include 3,000 new stores by 2017

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Starbucks Corporation is the largest coffeehouse company in the world based in Seattle, Washington. It is a global company with 20,366 stores in 61 countries, which includes 13,123 in the United States, 1,299 in Canada, 977 in Japan, 793 in the United Kingdom, 732 in China, 473 in South Korea, 363 in Mexico, 282 in Taiwan, 204 in the Philippines, and 164 in Thailand.

In Starbucks, they sell hot and cold drinks, coffee beans, salads, hot and cold sandwiches, sweet pastries, snacks, and items such as mugs and tumblers. The company also markets books, music and films through the Starbucks Entertainment division and Hear Music brand.

According to the reports from CNNMoney, Starbucks are planning to add 3,000 stores in the next five years, with at least half the new locations in the US. Starbucks also have plans to renovate most of its existing 18,000stores globally.

As per the annual reports of Starbucks, it has 11,100 stores in U.S and the additions of stores will lead to a 13% increase in the number of U.S stores by 2017.

The Starbucks are also having big plans for China as well, where it plans to more than double the number of stores from 700 stores to 1,500 in 70 cities by 2015, due to which the Starbucks presence in the Asia-Pacific region would be greatly added. By the end of 2013, Starbucks forecasts to have a total of 4,000 stores Asia which includes 1,000 in Japan, 500 in Korea and its first store in Vietnam and India.

The previous month, Starbucks announced that it had acquired $620 million from of Teavana Holdings a retailer which will give greater presence of Starbucks in the $40 billion global tea market.

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