Schultz said Starbucks' business in China will surpass that of the United States
Starbucks announced on the 26th that it plans to open its first international "Starbucks boutique bakery" in Shanghai, China, in 2017.
"I wouldn't be surprised if one day Starbucks has more stores in China than in the United States," CNBC quoted Schultz as saying.
"over the years, we have been very successful in China, and not long after we got involved in breakfast," he said. We are training Chinese to drink coffee in the morning. "
Starbucks now operates 2100 stores in more than 100 cities in China, with more than 300 stores in Shanghai alone.
Mr. Schultz said in January that he expected China to become Starbucks' largest market, but did not give a timetable. In the fourth quarter of last year, Starbucks' revenue in China and the Asia-Pacific region more than doubled year-on-year to more than $650 million.
While Schultz expects Starbucks to expand strongly in the Chinese market, he has no plans to speed up the opening of new stores. Starbucks plans to add 500 new units in China each year over the next five years.
Schultz is also optimistic about the long-term prospects of the Chinese economy. "in the long run, we will succeed in China and create long-term value for shareholders." I am very optimistic about this.
(source: Xinhuanet)
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