Starbucks has a thirst for China
Starbucks is pushing ahead with its expansion into China and said yesterday it is on track to having 5,000 stores there by 2021, more than doubling the number of coffee shops it currently has in the country. The coffee chain is looking to China to fuel the company’s growth. Starbucks CEO Howard Schultz has said that China could one day surpass the US as its largest market. Starbucks Corp has about 13,000 stores in the US. Belinda Wong was yesterday named as the first CEO of its Chinese business.