A letter from Starbucks to its Chinese partner in 2023: China will become Starbucks' largest market

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Today, Starbucks interim CEO Howard Schultz delivered a New year's message to his Chinese partners on the official website and expressed his vision for the development of the Chinese market. The original text is as follows:

(the following are all translations)

Dear Chinese partner--

During the holiday, I have been thinking about you and your family, and as we enter the new calendar year, I am reflecting on the great challenges you have faced in the past few years. Although your family and work life continue to be disrupted, I appreciate your selflessness and incredible resilience in taking care of each other, serving our customers and supporting our community. It is in the midst of adversity that we reveal our true character. Thank you for your loyalty to our values and for showing the essence of Starbucks.

I discuss with our Chinese leadership team every week and keep in touch with Belinda Wong every day to keep an eye on the development of China. I am very sorry to learn of the surge in the number of infections in the country since the beginning of December, which has and will continue to seriously affect your life and our business. I would like to remind you once again that your family, your partner and your health and well-being are our top priorities. As China enters the post-epidemic phase and begins to open up gradually, we will continue to protect and support our partners.

Over time, a gradual return to normal in people's lives and pre-Covid routines will undoubtedly help our business in China recover. Our customers are eager to return to familiar daily lives and lifestyles, and pent-up consumer demand is released when people feel it is really safe to go out for adventure. That's gonna happen. When it happens, our customers will come to our store in large numbers to enjoy the moment of reconnection, their favorite Starbucks drinks and your premium Starbucks experience.

Still, as Belinda has repeatedly shared, challenges and uncertainties remain, and the road to recovery will be non-linear. Although novel coronavirus's spread has affected all retail business in China over the past two months, we believe the interruption is temporary and our stores and customers will gradually return to normal.

I know this is because Starbucks' commitment to China, its commitment to our partners and business in China has never wavered, and it is unwavering today. I still believe that even more than 20 years after entering the market, we are still in the early chapter of China's development story. I believe that one day, China will become the biggest market of Starbucks. Because of you, our Chinese partner, I am sure of that. The ability you have demonstrated to meet every challenge, to overcome every obstacle and turbulence-and to build stronger operational strength in every unexpected test-has given me the greatest confidence I can imagine in the future of our business in China. Starbucks will continue to invest in you and China in the coming decades. I assure you, our best days are ahead.

Please know, I can't wait to see you in China soon. I will look for the first opportunity to do so. At the same time, as the Lunar New year approaches, please accept my best wishes to reunite you with your family and celebrate the health and prosperity of the year of the Rabbit.

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