Starbucks to open 400 stores in APAC in 2023
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Its newly-opened 5,000th store is located in Gwanyang-si, South Korea.
Starbucks is planning to expand further in Asia Pacific by opening 400 stores this 2023 after it opened its 5,000th store in the region in South Korea.
In a statement, Starbucks said it aims to build on its over 300-store portfolio across 40 cities in India and enter the market of at least five new cities.
In Southeast Asia, the company plans to build more stores outside the metropolitan areas of Indonesia, Thailand, Malaysia, and the Philippines. It opened its first store in Laos in November in the capital city, Vientiane, and plans to open another this year.
The company’s 5,000th store in the region opened in Gwanyang-si, South Korea which is located on a major road that connects the residential areas with business districts and features a drive-thru service.
“Asia Pacific is a dynamic and diverse engine of growth for Starbucks globally. As recovery continues, the region achieved over 20% sales growth year on year, demonstrating the strength and relevance of the brand,” said Michael Conway, group president, International and Channel Development for Starbucks.
“We are well positioned for further growth with our licensed business partners, who continue to elevate the Starbucks Experience across a range of innovative store formats,” he added.
Questions & Answers
Q.Which countries in Southeast Asia will see new Starbucks stores opening outside major cities?
Which countries in Southeast Asia will see new Starbucks stores opening outside major cities?
Starbucks plans to build more stores outside the metropolitan areas of Indonesia, Thailand, Malaysia, and the Philippines. This expansion focuses on reaching customers beyond the traditional urban centres.
Q.What is Starbucks' specific expansion strategy for India in 2023?
What is Starbucks' specific expansion strategy for India in 2023?
Starbucks aims to build on its existing portfolio of over 300 stores across 40 cities in India. The company also intends to enter at least five new cities, expanding its reach considerably.
Q.When did Starbucks open its first store in Laos, and where was it located?
When did Starbucks open its first store in Laos, and where was it located?
Starbucks opened its first store in Laos in November. This inaugural location was situated in the capital city, Vientiane, marking the company's initial entry into the country.
Q.What are the key features of the 5,000th Starbucks store in the Asia Pacific region?
What are the key features of the 5,000th Starbucks store in the Asia Pacific region?
The 5,000th store, located in Gwanyang-si, South Korea, is on a major road connecting residential and business districts. It also notably includes a convenient drive-thru service for customers.
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