Business
May 20, 2005
Starbucks sees China as biggest potential market beyond US
Having successfully entered its 13th city in China - Qingdao recently, Starbucks Coffee Company sees China as the biggest potential market outside the United States, the company's president said Friday in Hong Kong.
After Qingdao in Shandong Province, Starbucks will also soon be opening stores in Dongguan, Guangdong Province; Chengdu, Sichuan Province and Dalian, Liaoning Province, Martin Coles said.
Since Starbucks, the world's leading retailer, roaster and brand of specialty coffee, opened its first store in Beijing, capital of China in January 1999, it has quickly gained attraction amongst the Chinese people.
Citing China's large urban population, rising economy and increase in coffee consumption, Starbucks estimates that China could ultimately be the largest markets outside the United States, said the company chief.
Up till now, the company has over 120 stores in the Chinese mainland and over 300 across the mainland, Hong Kong and Taiwan, Cole added.
For the short term, Starbucks regards Asia Pacific as its major target markets, which now has over 1,200 stores and could ultimately have some 6,500 stores in the region, Cole said.
For the long term, the company plans to expand to 15,000 locations beyond the United States, he added.
Source: Xinhua
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