Grupo Vips is a Spanish multi-brand and multi-format restaurant and retail operator. It operates 16 commercial brands, including its flagship chains: Vips, Ginos, The Wok, Tio Pepe restaurants and the Spanish franchise TGI Friday’s.
At the end of this month, the company will become Starbucks’ fully licensed partner, with exclusive rights to operate Starbucks coffeehouses within the territories of Spain and Portugal. Previously, Starbucks and Grupo Vips each held 50% equity stakes in operating in those two countries.
“This agreement underscores Starbucks’ commitment to France and our belief in the long-term market’s potential,” said Philippe Sanchez, MD of Starbucks Coffee France, in a statement. “I look forward to working closely with our partners to continue serving the local communities, deliver the Starbucks experience and grow the market over time.”
Source: FoodWeek
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