Photo credit: Guo Qichang / AP Images via Hypebeast
China is Starbucks’ second largest market and they aim to become the first by opening a new store every 15 hours through the year 2022, which would mean a total of at least 6,000 stores in the span of just 4-years or so. To help make this plan a reality, Nestle SA finalized a $7.2-billion deal with Starbucks, which would mean sourcing branded products to local supermarkets, restaurants and catering companies. Continue reading for another video tour of the world’s largest Starbucks and more information.
“China has a long runway of opportunity for Starbucks. We can’t control what happens in the geopolitical situation. We are not immune to it, but we take a long-term view. We have built a business here in China over 20 years. We have built that business in China, for China,” said CEO Kevin Johnson to Bloomberg, who attended an investor conference in Shanghai.