Starbucks withdraws from Australian Market

Us coffee giant Starbucks has sold 24 coffee shops to Australian company The W ithers G roup and reached a franchise agreement with the company. At this point, Starbucks in Australia 14 years of difficult business history has come to an end.

The first Starbucks in Australia opened in Sydney C BD in 2000, and then rapidly expanded to 87 across the country. However, the good times did not last long, and Starbucks had to close 61 stores in 2008. Starbucks "lost" Australia, which was interpreted by the media to mean that Starbucks could not compete with Australia's mature coffee culture.