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Starbucks aims to double its China store count by 2022

16 May 2018

By 2022, it intends to set up on the mainland 6,000 stores, while the previous target was to set up 5,000 stores by 2021.

Starbucks Chief Executive Officer, Kevin Johnson said in a statement, "Starbucks is pushing a coffee culture in China where the reward will be healthy, long-term, profitable growth for decades to come".

In China, Starbucks is growingly dependant on explosive momentum, leaving Starbucks with no rivals close enough to give a good competition, to support the disappointing growth of sales in the USA and other places. "We are not immune to it, but we take a long-term view".

Through the company's purpose-driven growth agenda in China, Starbucks is focused on enhancing its immersive approach to building deeper customer relationships in digital and extending the Starbucks Experience to the on-the-go and at-home consumers.

The strategy was announced out of the coffee giant's first investor conference in China this week, where attendees heard that between 2017 and 2022, about 600 new stores will open a year across the mainland - a figure that will almost double the brand's presence across the country.

Revenue for the China/Asia Pacific region in its last financial year was $3.24 billion while its operating income ended at $754.7 million.

The Seattle-based firm is facing increasing pressure in the United States from high-end coffee shops and cheaper rivals and so it has turned its attention to the lucrative Chinese market.

Starbucks is shaping up an aspiring plan to compete in the race with KFC to become the quickest-growing foreign food chain with the unfolding of 600 new stores every year thus tripling the revenue by 2022.

China well-known for its technology innovations but now the country will get around 3,000 new Starbucks stores.

The growth is helping the coffee chain create 10,000 jobs per year in China, where the company is keen to set itself apart by offering generous employee benefits, including health insurance for the parents of employees in a country where children often care for aging family members.

The chain also bringing a new line of pre-made cold tea as well as coffee to China next month. "We have built that business in China, for China".

Starbucks aims to double its China store count by 2022