Starbucks aims to double its China store count by 2022

Loaded With Nestle Cash, Starbucks Intends To Triple China Revenue

Which means opening 600 new Starbucks a 12 months in China - or one each 15 hours - a major improve on the corporate's earlier aim of round 500 a 12 months. An American Seattle coffee chain Starbucks recently announced to build new 3,000 coffee stores in China over the upcoming years, however, the company anticipating the double numbers of coffee shops in the world's second-largest economy before the end of 2022.

"Starbucks is committed to playing the long game in China and is proud to be an integral part of the local community for almost 20 years", Belinda Wong, Starbucks China chief executive officer, said in a statement.

Starbucks wants to build deeper digital customers relationships in China to build a foundation for introducing new features like personalization, Mobile Order and Pay and delivery service. Its business is growing must faster than the expectations in China and in other countries too. A $7.2-billion deal with Nestle earlier this month gives the coffee giant the cash to pursue its goal of accelerating expansion in China, which is set to become Starbucks' largest market within a decade.

The Seattle-based firm is facing increasing pressure in the United States from high-end coffee shops and cheaper rivals and so it has turned its attention to the lucrative Chinese market.

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Starbucks hopes to double its operating profit in China over the years of 2017 to 2022. In China, the current outlets are 3,300, with a comparison to the US which has about 12,000 outlets, including the licensed stores.

Now, the firm says that it aims to nearly double the number of coffee shops it has in the world's second-largest economy. Consumers also are shopping more at home, shunning brick-and-mortar retail for e-commerce.

Starbucks is increasingly reliant on China, where it has no close rivals, to prop up underwhelming sales growth in the USA and elsewhere. Switzerland-based Nestle can now sell Starbucks-branded packaged coffee products in Chinese supermarkets, restaurants and catering operations.

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