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Starbucks CEO Intends to Enter Myanmar by 2015

Starbucks SBUXMyanmar’s emergence from decades of military rule and isolation continues to attract interest from global brands.

On Monday, Starbucks (NASDAQ:SBUX) became the latest Western company to signal plans to enter the Southeast Asian nation. CEO Howard Schultz, who is visiting Bangkok, Thailand, told reporters that the popular coffee chain might open its first location in Myanmar in “the next couple of years,” the Associated Press noted.

The company recently launched its first coffee shops in Vietnam and India and is looking to double its number of shops in Thailand to 320 by 2018.

Formerly known as Burma, Myanmar was ruled for almost half a century by a military junta, which closed it off from the rest of the world. In recent years, the country, home to about 60 million people, has taken steps toward democracy.

Last year, Coca-Cola (NYSE:KO) announced that it would begin selling products in Myanmar after a 60 year absence.

Earlier this month, Ford (NYSE:F) said it would open a showroom selling F-Series pickups in the country.

Article printed from InvestorPlace Media, https://investorplace.com/2013/05/starbucks-ceo-intends-to-enter-myanmar-by-2015/.

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