China well-known for its technology innovations but now the country will get around 3,000 new Starbucks stores. An American Seattle coffee chain Starbucks recently announced to build new 3,000 coffee stores in China over the upcoming years, however, the company anticipating the double numbers of coffee shops in the world’s second-largest economy before the end of 2022. It is a significant increase on the company’s earlier goal of around 500 a year.
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.”
An American coffee chain aiming to tap into growing trends of Chinese consumers drinking beverages on the go. Starbucks is having sold Nestle the rights to sell Starbucks-packaged tea and coffee around the world for $7.2 billion.
The chain also bringing a new line of pre-made cold tea as well as coffee to China next month. Its business is growing must faster than the expectations in China and in other countries too.
According to the Starbucks’ latest report, the Asia-Pacific region jumped 54% last quarter compared with the same period a year earlier. However, Canada, Latin America, and the United States revenue rose just 8%.