Starbucks Korea to open the 30th upscale Reserve Bar
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Starbucks Korea says it will expand its premium Reserve store network to meet the growing demand for specialty coffee among local consumers.
The company will open two Reserve stores in Seoul and a third in Pangyo, just south of the capital, this week. They will raise to 30 the number of upscale Reserve cafes in the country, which is already the third-largest total of any international market, behind China with 52 and the US with 35.
Starbucks Korea is a joint venture between Starbucks Coffee International and South Korea’s Shinsegae Group.
The number of Reserve bars in South Korea stood at 15 as of the end of last year, so has nearly doubled in the past six months.
“We will continue to increase the number of Reserve bars in line with the growing demand for specialty coffee among local consumers,” a Starbucks Korea official said
Starbucks remains the undisputed No 1 in Korea’s coffee industry and was the first such chain the country to surpass 1 trillion won (US$895 million) in sales. It has more than 1150 stores nationwide.
The size of South Korea’s domestic coffee market reached 6.4 trillion won at the end of 2016, up 30.6 per cent from 2014, according to government data.
Questions & Answers
Q.How many Reserve bars did South Korea have at the end of last year compared to now?
How many Reserve bars did South Korea have at the end of last year compared to now?
South Korea had 15 Reserve bars at the end of last year. With the new openings this week, the total number of upscale Reserve cafes will reach 30, effectively doubling in the past six months.
Q.Which international markets have more Starbucks Reserve bars than South Korea?
Which international markets have more Starbucks Reserve bars than South Korea?
China and the US currently have more Starbucks Reserve bars than South Korea. China has 52 Reserve bars, and the US has 35, making South Korea the third-largest total globally.
Q.Who owns Starbucks Korea?
Who owns Starbucks Korea?
Starbucks Korea is a joint venture. It is owned by Starbucks Coffee International in partnership with South Korea’s Shinsegae Group, collaborating to operate the coffee chain in the country.