Starbucks Corporation (NASDAQ:SBUX) today has announced that its plans to open 3,000 new cafes in the US over the next five years.
According to the press reports from business wire, another Starbucks cafe is soon to pop up around the corner, with the world's largest coffee brand planning to launch 3,000 total new stores, including 1,500 cafes in several states in the US, in the next five years, as part of its aggressive global expansion plans.
The Seattle- based coffee company is set to announce its official plan at its investor day in New York on December, 5.
Anticipating to establish the largest market position in China, Starbucks Corporation (NASDAQ:SBUX) is striving to get on track to having its stores in China in the new few years.
“Starbucks will have more than 20,000 retail stores on six continents by 2014," said Howard Schultz, chairman, president and CEO in a statement at the company’s 2012 Investor Conference in New York.
Starbucks Corporation (NASDAQ:SBUX) had previously said it planned to open 1,000 new U.S. stores. Now expecting to double its international Channel Development footprint by year 2015, Starbucks foresees more than 20,000 retail stores in six continents by 2014.
“Starbucks' business and brand have never been healthier, and as a company we have never been better positioned to execute against our global, multi-channel growth agenda,” Starbucks chairman, president and chief executive officer Howard Schultz said at the company’s 2012 Investor Conference, today.
With fiscal 2012 revenue growth increased to $1.3 billion, Starbucks Corporation (NASDAQ:SBUX) has acquired the position of second-largest operating segment to this date.
It is notable that Starbucks agreed to acquire a tea retailer, Teavana Holdings, Inc. (NYSE:TEA), in exchange for an all-cash deal of $620 million, in a move to expand its services beyond its coffee core.
John Culver, president of Starbucks China and Asia - Pacific region, pointed out the positive results achieved by the company so far this quarter. He highlighted the tremendous success of the company's first three stores in Mumbai, India – opened since October – and reaffirmed plans to open the company’s first store in Delhi in early 2013.