Starbucks Plans Add 100 Chains in Indonesia and the Philippines within 4-years | Insider News
(The Insider Stories) – Coffee chain Starbucks (SBUX) plans to ramp up its presence in Indonesia and the Philippines as it seeks to tap increasing wealth of the emerging Asian economies.
The company Thursday unveiled its plan to open 100 new coffee stores in Indonesia, Southeast Asia biggest economy, over three years time, and also to open 100 stores in another Southeast Asian country, the Philippines, within four years period.
“With a population of more than 600 million people, an emerging middle class that is driving strong consumption and a robust and resilient economy, Southeast Asia presents a compelling growth opportunity for Starbucks,” Starbucks chief executive Howard Schultz said in a statement following his visit to the two Southeast Asian nations.
“Never before have Starbucks prospects in this region been so exciting. As we ramp up our ambitious, yet disciplined, growth momentum across Southeast Asia, we will continue to build the Starbucks brand through the lens of humanity – supporting local coffee farmers and the neighborhoods we serve, while also investing in the growth and development of our partners,” he added.
Starbucks sourced the highest-quality arabica coffee from Indonesia’s Sumatra since 1971 before opened its first Southeast Asian coffee shop in Singapore in 1996. It currently operates more than 700 stores across six countries in the region: Singapore, Malaysia, Indonesia, the Philippines, Singapore, Thailand and Vietnam.
