Starbucks pours more investment into China - video Dailymotion

The Star

With a new coffee innovation park in operation in east China's Jiangsu province, global beverage chain Starbucks has set a new milestone in its business in China. Its CEO Laxman Narasimhan said in an interview that the company will continue to invest in the country.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00 [MUSIC PLAYING]

00:03 We've had beans that we've grown in various parts of the world.

00:11 We buy from over 30 countries.

00:13 And what we've done today here in Kunshan

00:17 is we've put in place one of the best factories in the world

00:20 that we've ever had, the largest investment we have made.

00:23 We've invested over $220 million in this facility.

00:29 And what it is, is again, it's an expression

00:31 in our long-term confidence of our business in China.

00:35 I came here at the end of May, and I

00:42 saw this facility partly done.

00:45 And here we are at China's speed.

00:48 It's done.

00:48 It's amazing.

00:49 I've gone and obviously traveled around Shanghai.

00:58 We have 1,150 stores in Shanghai.

01:02 And we have the ability for us to open even more.

01:04 Per capita consumptions of coffee in China

01:07 are 12 per capita.

01:09 Shanghai is higher.

01:11 But it's still much lower than Japan at 280 and the US at 380.

01:17 So I think the per capita is here still are--

01:20 we're in early days.

01:21 We see upside here in China, significant upside.

01:25 [MUSIC PLAYING]

01:28 We welcome competition because it expands the market.

01:32 As the market grows, the market will tear.

01:35 Another investment we made just a few weeks ago,

01:37 we made an investment of another $220 million

01:40 in Shenzhen, where we put in there

01:43 our innovation and technology center anchored in our stores,

01:46 but also highly digitally enabled.

01:49 And that's what Shimbaka in China will do.

01:51 [MUSIC PLAYING]

01:55 [MUSIC PLAYING]

01:58 [MUSIC PLAYING]

02:01 [BLANK_AUDIO]

Starbucks pours more investment into China

Category

Transcript

Recommended