SHANGHAI, May 30 (Xinhua) — Starbucks’ new world CEO Laxman Narasimhan on Tuesday highlighted China’s big market potential and advised the corporate’s aim of opening 9,000 shops on the Chinese mainland by 2025 remained unchanged.
China’s per capita espresso consumption is growing however nonetheless lags far behind Japan and the United States, thus leaving a lot room for enterprise development, Narasimhan stated throughout his go to to Shanghai, dwelling to greater than 1,000 Starbucks shops, which is greater than some other metropolis on the earth.
The U.S. espresso large opened its first retailer on the Chinese mainland in 1999. As of April 2, it had operated over 6,200 shops throughout 244 cities on the Chinese mainland.
Despite the affect of COVID-19, the corporate final 12 months revealed plans to extend its retailer rely on the Chinese mainland to 9,000 by 2025.