Starbucks to Open First Shop in Vietnam

by Christopher Freeburn | January 3, 2013 11:41 am

Starbucks SBUX [1]Vietnamese coffee lovers will soon be able to sip their favorite drink[2] at Starbucks (NASDAQ:SBUX[3]).

The popular U.S.-based coffee shop chain will open its first store in Vietnam in early February, Reuters notes.

Starbucks is looking to expand its presence in the Asia-Pacific region. It will partner with the Hong Kong-based Maxim’s Group to launch the shop located in Ho Chi Minh City.

Vietnam, which is the world’s second largest coffee producer, behind Brazil, supplies arabica coffee to Starbucks.

In a media interview in November, Starbucks CEO Howard Schultz said that the company planned to open 1,200 new locations this year, with between 70% and 80% of those based in overseas markets. He also noted that the company expected to have 1,000 shops in Japan and China by the end of 2013[4].

Shares of Starbucks rose fractionally in Thursday morning trading.

Endnotes:

[Image]: http://investorplace.com/wp-content/uploads/2011/12/Starbucks.jpg
will soon be able to sip their favorite drink: http://www.reuters.com/article/2013/01/03/uk-starbucks-vietnam-idUSLNE90200J20130103
SBUX: http://studio-5.financialcontent.com/investplace/quote?Symbol=SBUX
expected to have 1,000 shops in Japan and China by the end of 2013: http://investorplace.com/2012/11/starbucks-plans-major-expansion-store-makeovers/

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