Starbucks to expand presence in Latin America; ‘several hundred’ stores planned for Brazil
Seattle -- Starbucks Coffee Co. details its expansion plans for Latin America, including the opening of its first shop in Costa Rica on June 20. The company also said it plans to open "several hundred stores” in Brazil the next five years. (Starbucks has full ownership of its business in Brazil.)
Starbucks and joint-venture partner Alsea expect to add more than 300 new stores in Argentina and Mexico by 2015.
“Starbucks business outside the U.S. is a key part of the company’s future, and Latin America continues to play an important role,” said Cliff Burrows, president, Starbucks Americas. “As a coffee company, we source the majority of our coffee from Latin America. We’re dedicated to not only expanding our store presence here, but also deepening our relationships with farmers, their families and the community.”
Currently, Starbucks operates more than 560 stores across Latin America.