Starbucks CEO is optimistic about China: the expansion of China's Coffee Market will continue for decades
Professional barista communication, please pay attention to coffee workshop (Weixin Official Accounts cafe_style)
Starbucks believes China's growing middle class and urbanization will boost demand for coffee in a country where tea culture is popular
China is Starbucks 'biggest growth opportunity, and the expansion of the Chinese market is likely to continue for decades without interruption.
That's what Starbucks CEO Kevin Johnson told Bloomberg host Emily Chang at the GeekWire Summit in Seattle. While the U.S. will remain an important market, Starbucks 'future will depend on its expansion into China.
"China is our second largest and fastest growing market," he said. "We can open new stores in China for decades and there will be growth opportunities."
Starbucks announced in July that it would buy the remaining 50 percent of its joint venture in eastern China for $1.3 billion, giving it 100 percent ownership of about 1300 stores in Shanghai, Jiangsu and Zhejiang.
Starbucks believes that China's growing middle class and urbanization will increase demand for coffee in a country where tea culture is popular. The slowdown in U.S. sales has increased pressure on Starbucks to bet heavily overseas. Starbucks aims to operate 5000 stores in the mainland of China by 2021.
Starbucks CEO Sees Decades of Growth From Its Chinese Expansion
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Professional barista communication please pay attention to the coffee workshop (Wechat official account cafe_style) after food intake is converted into calories, it is used to maintain the body's basic heartbeat, blood pressure and other metabolism, part of the energy will be converted into liver sugar, stored in the liver and muscles, helping muscles contract and maintain blood sugar balance in a short period of time. The extra heat is converted into adipose tissue, which is stored under or inside the skin.
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