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Starbucks sees robust growth; focus on China
(Reuters)
Updated: 2006-02-14 19:15
CHINESE POTENTIAL
"No market potentially has the opportunities for us as China hopefully will," Schultz said, pointing out that the company was now moving into second tier cities such as Shenyang in the northeast and Chungdu in the western part of the country.
"Even though this is a very early stage, the response to Starbucks in China has exceeded expectations," said Schultz.
Starbucks plans to open stores in Russia and Brazil in the next 12 to 18 months as part of an international expansion plan that will boost its shops abroad five-fold.
A Chinese court ordered Shanghai Xingbake Coffee Co. Ltd. to pay about $61,900 to Starbucks for copyright infringement, official state media said earlier this year, as the country battles to rein in intellectual property theft. "Xingbake" is the Mandarin translation of Starbucks in China.
Schultz said the court case was an important milestone and underscored the huge opportunities for Starbucks in China.
($1=8.048 yuan)
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