Starbucks Coffee Company reaffirmed its commitment to accelerate growth in Southeast Asia, with plans to open 100 new stores in Indonesia over the next three years and another 100 stores in the Philippines over the next four years.
Howard Schultz, Starbucks chairman, president and CEO, committed to continuing to invest in the region following this week’s market visit to Indonesia and the Philippines, where he met with Starbucks partners (employees) and customers.
Starbucks entered Southeast Asia in 1996 with its first store in Singapore. The company currently operates more than 700 stores across six countries, including Indonesia, Malaysia, the Philippines, Singapore, Thailand and, most recently, Vietnam.
“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,” said Schultz.
“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.”
Source: Starbucks Coffee Company
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