Global retail giant, Starbucks has said that it has recorded a 30 per cent in revenues from its Asia-Pacific region, indicating that the region is becoming a major market for the company.
The Seattle-based coffee giant said that the growth is due to 500 new stores openings in China in the previous year and the company is planning to expand further in the country. It said that it is planning to open the doors to its thousandth store in China within this year, indicating that the company is foreseeing huge growth prospects in China.
The company already has presence in Beijing and Shanghai and it is now looking to enter the smaller cities. Starbucks said that China will emerge as the second largest market after the United States by surpassing Canada by the year 2014. It said that the strategy in China is the same as that in many counties with a focus on core food and beverage products while also offering other locally oriented choices.
Starbucks opened its first store in Taipei in 1998 and its first mainland store in Beijing in 1999. The growth indicates that the coffee chains might be able to find their space in the largely tea drinking nations of Asia.
Source: Top News