Intending to leverage from Asia’s reopening after the Covid-19 pandemic, Starbucks has launched its biggest expansion drive in five years.
The multinational company plans to open 400 new stores across the Asia-Pacific region in 2023, marking its biggest expansion in the region in the last five years.
The coffee chain will be opening more outlets in countries like India, Indonesia, Thailand, Malaysia, Laos, and the Philippines as it aims to expand beyond major cities, CNN Business reports.
“The Asia Pacific region will continue to be a key growth driver for Starbucks globally, and we remain optimistic of its long-term growth and opportunities, underpinned by a growing middle class and rising coffee consumption,” says Michael Conway, Starbucks’ president of international and channel development.
Starbucks recently celebrated its 5,000th Asian store opening in Gwangyang-si, South Korea, reaffirming the commitment that the company has to growth opportunities in the region.
Among other growth efforts, it intends to boost its India portfolio of 300 stores across 40 locations by expanding its footprint into five new cities.
Additionally, Starbucks plans to also expand its presence in Laos by opening a second store at the ViewMall, Vientiane, in March this year.
