Starbucks Corporation Plans Up to 1,000 Upscale Reserve Cafes

Starbucks Corporation (NASDAQ:SBUX) continues expanding its presence in the U.S. and abroad, now with a program that will soon reach far and wide.

Source: ©

The coffee giant opened its first Reserve cafe — an upscale concept with premium coffee — in its Seattle home two years ago. Starbucks has now confirmed that the second Reserve location will be opened in Shanghai in 2017.

The company will follow this move up with 2018 Reserve debuts in Tokyo and New York City. Over time, the cafe hopes to have up to 1,000 upscale concept locations around the globe.

The Starbucks concept is more than a coffee shop–the Seattle location opened in 2014 has been labeled a “magical coffee ride.” The 15,000-square-foot facility in Washington sells limited-supply Reserve coffees for up to $50 per 8-ounce package.

The coffee is prepared using methods that are not as prevalent in coffee shops, including siphon brewing. The move follows a series of initiatives and expanded benefits to its employees that have made 2016 a year of positivity for Starbucks.

The company announced yesterday that it was looking to double its presence in China by 2021, reaching 5,000 coffee shops over this span. Several new coffee drinks have been launched this year, but perhaps the most surprising is a beer — an IPA — that comes with a shot of espresso.

Workers will also be happy to hear that Starbucks has boosted its healthcare benefits to baristas, only days after raising its minimum wage at the store.

SBUX shares gained 1% Thursday afternoon.

More From InvestorPlace

Article printed from InvestorPlace Media,

©2022 InvestorPlace Media, LLC