Maxim Group opens its 1000th Starbucks store in the East Asian market!

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Recently, World Coffee Portal reported that Meixin opened its 1000th Starbucks coffee shop in the East Asian market. It is understood that the store is located in the Diamond Square Shopping Mall in Hanoi, Vietnam.

(the picture is taken from a related report on World Coffee Protal)

Since opening its first Starbucks store in Hong Kong in 2000, Meixin has partnered with Starbucks to set up Coffee Concepts Ltd. The joint venture company has opened a number of stores in South China, Hong Kong and Macao to introduce Starbucks' coffee culture into China.

In 2011, Starbucks signed an agreement with Meixin Group to acquire a 100% controlling stake in more than 140 stores in southern, central and western China. At the same time, Starbucks transferred a 5 per cent stake in its Hong Kong-Macau joint venture to Maxine, which takes 100 per cent ownership of Starbucks stores in Hong Kong and Macau.

Despite the lack of cooperation in the mainland Chinese market, the link between Meixin Group and Starbucks has not been suspended. In recent years, Meixin Group has shifted its coffee shop layout to the Southeast Asian market.

In 2017, it acquired the existing operations and franchises of more than 130 Starbucks stores in Singapore. In 2019, the exclusive operation of Starbucks' 372 stores in Thailand was acquired by Meixin. In 2022, Starbucks partnered with Meixin Group to open its first Starbucks store in Yongzhen, the capital of Laos.

So far, Meixin has been franchised by Starbucks in seven East Asian markets, including Hong Kong, Macau, Cambodia, Laos, Singapore, Thailand and Vietnam. By number of stores, its largest Starbucks market is Thailand, with 507 stores, followed by Hong Kong with 163, Singapore with 143 and Vietnam with 115.

(the picture is taken from a related report on World Coffee Protal)

According to the report, Norbert Tan, chief operating officer of Meixin Group, said, "when I first led the Starbucks portfolio in 2012, we had 126 Starbucks stores in two regions, and I thought I was very lucky to be part of this growth story. I am proud of the 1000 community services we operate and more than 10, 000 partners in green aprons every day."

Another World Coffee Portal report pointed out that in June this year, Starbucks opened its 500th store in Thailand and a new drive-thru store (drive-in store) in Bangkok, reaching a milestone. According to the report, Starbucks said it plans to expand to 800 stores in Thailand by 2030.

The expansion plan will work with local franchisee Coffee Concepts Thailand, a joint venture between Singapore-based food and beverage company Fairn and Hong Kong-based Meixin Group, to focus on drive-thru stores and related facilities and drive profit growth at local Starbucks stores.

Picture from: Internet

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