Starbucks Coffee International, a subsidiary of Starbucks Corp. (Seattle), has signed a joint-venture agreement with retail companies in Madrid and Barcelona to enter the Spanish market. Along with Grupo Vips, a leading Madrid-based restaurant and retail company, Europastry, a Barcelona-based bakery business and El Moli Vell, a retail operator of cafŽs and pastry shops in Barcelona, Starbucks will open a retail store in Madrid in spring 2002.
“We are on schedule and on track with our expansion plans for continental Europe,” said Peter Maslen, president of Starbucks Coffee International. “Spain is our first Latin market and represents an important landmark for Starbucks.”
Last Thursday, Starbucks and the KarstadtQuelle Group signed a joint-venture agreement in Berlin to open stores in Germany, also in spring 2002. Starbucks opened its first store in continental Europe in Zurich, Swtizerland, in March of this year, and it has announced plans to open its first location in Vienna, Austria by 2002.
Starbucks is a leading retailer and roaster of specialty coffee, with more than 4700 retail locations around the world.