Starbucks China, headquartered in Shanghai, confirmed to the media on January 31st that the number of Starbucks stores in mainland China has exceeded 7000.
According to the financial report for the first quarter of Starbucks fiscal year 2024 (October 2, 2023 to December 31, 2023) released on the same day, despite the challenging external environment, Starbucks China achieved impressive growth through continuous product innovation, omnichannel strategy, and the unremitting efforts of Starbucks partners (referring to employees), continuing to maintain its leading position in the high-end coffee market in China.
Data shows that Starbucks added a net 169 new stores in the mainland Chinese market during the quarter, entering markets in 28 county-level cities, with a total of 6975 stores. As of January 31, 2024, this number has exceeded 7000.
Starbucks China Chairman and CEO Wang Jingying stated that in January 2024, Starbucks achieved a milestone of over 7000 stores in the mainland Chinese market, striving to reach a store size of 9000 by 2025. "We will accelerate the sinking of our stores, providing high-quality coffee drinks and a unique Starbucks experience to more communities and customers," she said.
This year marks the 25th anniversary of Starbucks entering the mainland Chinese market. Wang Jingying stated that the long-term development opportunities for the Chinese market are obvious.
Starbucks Global CEO Nasihan commented that Starbucks China's development is showing strong momentum. "Starbucks' goal is to become the preferred brand in the high-end coffee market in mainland China, and we are confident in our long-term development in the Chinese market," he said.