Starbucks Corporation (NASDAQ:SBUX) plans on opening its first store in Italy.
The coffee giant is taking on one of the world’s preeminent coffee markets by opening its first Italian Starbucks in Milan. Expect the cafe to debut in early 2017 as part of a partnership with Italian developer Percassi.
CEO Howard Schultz added one of the chain’s iconic drinks following a business trip to Milan in the 1980s as espresso drinks became a Starbucks staple in the US soon after that.
The restaurant has a minor presence in Europe with stores in the UK, as well as stores in the rest of the continent. In addition to Europe, Starbucks has stores in the Middle East and Africa, totaling about 10% of stores globally.
The company’s US presence may be part of American culture at this point, but breaking into the Italian coffee market could prove difficult as the country has plenty of local cafes that excel in selling espresso and capuccinos.
Percassi will run and own the Starbucks store in Italy, with more locations expected to follow.
The chain recently announced that it received approval to serve alcohol in five Utah locations.
SBUX stock is up 0.9% Monday.
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