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Magazines Archives - 2011 June

Starbucks takes ownership of outlets in key Chinese cities.
Story 10 - Logistics

STARBUCKS COFFEE COMPANY announced this month its decision to assume 100% equity of its business in central, southern and western China in the key provinces of Guangdong, Hainan, Sichuan, Shaanxi and Hubei, as well as the municipality of Chongqing.

The global coffee chain, which has its headquarters in Seattle, USA, has signed a contractual agreement with Maxim’s Caterers Ltd, its joint-venture partner in South China, including Hong Kong and Macau, for these stores.

As part of the agreement, Maxim’s has acquired Starbucks’ remaining equity stake in the Hong Kong and Macau markets, assuming 100% equity of the business in these two markets.

Under the new agreement, Starbucks now has full control of more than half of the Starbucks retail stores in mainland China and the company aims to accelerate its growth in the populous market.

Commenting on the agreement with Maxim’s, Starbucks Coffee International’s president, John Culver, said: “Full ownership of our stores in central, southern and western China is part of our broader strategy to build China as our second home market outside of the US and allows us to accelerate growth as we look to achieve our goal of having 1,500 stores across the country by 2015.

“In addition, this agreement demonstrates our commitment to our 11-year partnership with Maxim’s. We are confident they will continue to maximise the growth of the Starbucks brand in the Hong Kong and Macau markets, delivering an unparalleled ‘Starbucks Experience’ to our customers.”

Michael Wu, Maxim’s Caterers’ chairman and managing director, commented: “We are very pleased with our long-term relationship with Starbucks. Over the past decade, Starbucks has dedicated itself to cultivating coffee culture in Hong Kong and Macau by enthusing our neighbourhoods with passion for coffee.

“We will continue to build upon our strong business foundation to grow the Starbucks business in the Hong Kong and Macau markets and look forward to serving more customers and elevating the ‘Starbucks Experience’.”

The partnership between Starbucks and Maxim’s started more than 11 years ago in Hong Kong, with the opening of the first Starbucks store in Hong Kong’s Exchange Square. Today, there are more than 110 Starbucks stores with a total staff strength of over 1,300 in both Hong Kong and Macau. ra

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2011 June Stories:

Robust global consumer sentiments despite clear and present dangers Guarded optimism needed for Asian retailers …

Panasonic forging ties towards a seamless, digital future

Cards Asia 2011 ‘bigger’ and ‘better’ than before

S’pore retailers improve efficiency with retail technology

Anuga 2011 – a ‘giga-networking’ event for F&B professionals

CRC creating an iconic Bangkok landmark – Central Embassy

Aeon to expand in China, SEA

S’pore’s NETS targets China’s fast-growing e-shopper market with new service

Retail real estate spurs growth in Indonesia’s property scene.

Starbucks takes ownership of outlets in key Chinese cities.

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