Starbucks CEO: the company's future can be expanded in China for decades.

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Kevin Johnson, chief executive of Starbucks Corp. (SBUX-US), said Tuesday that the key to Starbucks' future growth lies in China, where he believes the expansion of the Chinese market can last for decades without interruption.

According to Bloomberg, Johnson pointed out that although the United States will still be an important market, the future of Starbucks will depend on the expansion of the Chinese market.

"China is our second largest and fastest growing market," Johnson said. We will open new stores in China in the coming decades, and we will continue to have growth opportunities there. "

Daily trend chart of Starbucks share price (performance over the past year)

Starbucks jointly announced with Uni-President in July that it would buy the remaining 50 per cent of Starbucks' East China Market joint venture (Shanghai Unified Starbucks Coffee Co., Ltd.) for about $1.3 billion in cash. as a result, it has acquired 100 per cent ownership in about 1300 home markets in Jiangsu, Zhejiang and Shanghai.

At the time, Johnson said it aimed to increase the number of stores to 5000 by 2021, up from the current 2800.

Johnson points out that China's growing middle class and urbanization will increase coffee demand in this popular tea-drinking country. On the other hand, Starbucks' declining sales in the United States have also increased the pressure on them to develop overseas.

Johnson stayed in technology for a long time before joining Starbucks. He believes that innovation is the key to driving sales, including re-creating new drinks, experimenting with new store designs, and strengthening the application of action programs.

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