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Starbucks Accelerates Growth in Asia

Brand acquires ownership in central, south, western China

Published

13 years ago

June 3, 2011

VMSD Staff

Starbucks Coffee Co. (Seattle) signed an agreement with catering company Maxim’s Caterers Ltd. (Hong Kong), Starbuck’s long time joint-venture partner in South China, to assume 100 percent equity of its business in the provinces of Guangdong, Hainan, Sichuan, Shaanxi and Hubei, and the municipality of Chongqing.

With the contract, Starbucks now has full control of more than half of Starbucks retail stores in mainland China as it looks to grow in the future.

“Full ownership of our stores in central, south and western China is part of our broader strategy to build China as our second home market outside of the U.S. and allows us to accelerate growth as we look to achieve our goal of having 1500 stores across the country by 2015,” says John Culver, president of Starbucks Coffee International.

The partnership between Starbucks and Maxim’s began more than 11 years ago in Hong Kong, with the opening of the first Starbucks store in Hong Kong’s Exchange Square. Today, there are more than 110 Starbucks stores in Hong Kong and Macau.

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