Starbucks Corporation (SBUX) Plans to Double Locations in China

Shutterstock photo

InvestorPlace InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Starbucks Corporation (NASDAQ: SBUX ) is planning to double the number of locations it has in China by 2021.

Starbucks, China, SBUX Source: ©

Starbucks is planning to increase the number of stores in China from 2,300 to 5,000 over the next three years. The company has seen its stores in China grow in recent years. It had just 400 locations in 2011.

News that SBUX plans to double the amount of locations in China was announced alongside a management change. Starbucks China President Belinda Wong has been promoted to CEO of the China division. She joined the company in 2000 and has held several leadership roles since then.

"It is a privilege and honor to be appointed to lead Starbucks business in China during this important time," Wong said in a statement . "There continue to be tremendous opportunities for Starbucks in China and I look forward to further elevating the mission and values of our company through growth and innovation for our Chinese partners and customers."

Belinda Wong will also be overseeing the opening of the first Starbucks Roastery in China. This will actually be the coffee chain's first Roastery not located in the United States. Current plans have it opening in 2017.

The new Starbucks Roastery will be located in Shanghai. It will act as a place of "coffee roasting, manufacturing, education and retail within a single facility." This means it will have a similar role to the company's other Roastery location in Seattle, Wash.

The Starbucks Roastery coming to Shanghai will be twice as large as the one located in Seattle . It also isn't the only one being made. Another Roastery is currently in the works for New York City with a 2018 opening planned.

SBUX stock was up 1% as of Wednesday morning.

More From InvestorPlace

The post Starbucks Corporation (SBUX) Plans to Double Locations in China appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks

More from InvestorPlace Media


InvestorPlace Media

InvestorPlace Media

Investing, Financial News
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by