The Starbucks corporation is about to launch 12,000 additional stores worldwide in the next five years. As these stores began to conquer the world, the company expects outlets in China to overtake the U.S. market soon.
"Not only will China one day be bigger than the U.S., but our business in China will demonstrate that we will be one of the... most significant winners in terms of a Western consumer brand," Starbucks Chairman and CEO Howard Schultz said in an interview Wednesday at Starbuck's investor day event in New York. "Our core business has never been stronger in the U.S. and around the world," he added.
By 2011, the company's goal is to have about 37,000 outlets worldwide focusing more in the U.S. and China, CNBC reported. At present, the company is opening about 500 to 600 stores annually.
The American coffee company and coffeehouse chain's CEO also emphasized in his interview how open Starbucks is for changes and innovation. According to him, despite its success, the life of their coffee business is still young, if it is a book then probably the readers are still in the first few chapters of the story.
Starbucks President and COO Kevin Johnson also shared in the interview that the business is still going strong and has no signs of falling. In fact, its ability to return on invested capital and earn a stable profit are stable and investors experience less to no risks in terms of the liquidity of it.
Sharon Rothstein, the company's global marketing officer, announced at the same event that aside from the additional stores the company will be putting up, Starbucks also have plans in adding some delicious stuff on its menu. Additional goodies on their menu include organic soups that are perfect for health-conscious people, Business Insider reported. Its varieties are tomato and chicken soup.
CEO Howard Schultz talks about the Starbucks' plans for expansion in China