Market research is at the core of many of the market entry strategies Starbucks is employing. It's the second Starbucks' Roastery to open and is twice the size of its flagship location in Seattle. Ahead of the Wuhan virus spread, Starbucks closes 2,000 of its China location stores, citing the BBC. In 2018, it recorded 29,324 stores worldwide. This enables us to achieve our promise everyday through our stores. But Starbucks shows no sign of slowing down and has continued to post impressive revenue growth. Analysts expect operations in China will see 7% annual revenue gains in fiscal 2019-2020. All Rights Reserved. Its headquarters are in Seattle, Washington. China accounted for 10% of Starbucks' revenue during its first quarter. Expansion to growing markets in Asia. The average revenue of new stores in China is $670000, with a profit margin of … The company did not share any updates on the expected financial impact of the temporary closures. The Chinese company operated more than 4,500 stores at the end of December across China, topping Starbucks who had 4,100 shops. For fiscal 2020 (ending Sept. 27), global same-store sales fell 14% year-over-year. © 2020 CNBC LLC. My … Among those changes are the new “strawless lids,” which the company debuted in 2019 and, as of fall 2020… Market research is at the core of many of the market entry strategies Starbucks is employing. I found a three story one in Xiamen, and one with a special area for the Reserve coffee bar. We want to hear from you. Starbucks in China. Starbucks Opportunities 2020. Starbucks recently reopened its headquarters, regional support center, and Farmer Support Center in Yunnan province and Starbucks Reserve Roastery in Shanghai, all which experienced temporary closures in recent weeks. Published by Yihan Ma , Nov 26, 2020. All Rights Reserved. Starbucks for a Year, 6 Months, 3 Months, or 1 Month will be fulfilled as a daily credit for one free food item or standard menu beverage during the time period specified, which can be redeemed at participating stores. Starbucks is pushing "a coffee culture in China where the reward will be healthy, long-term, profitable growth for decades to come," said CEO Kevin Johnson in a statement. As many as 25,000 stores could shutter in 2020 due to COVID-19 impact. It plans to triple its revenue and double its operating profit in China between 2017 and 2022. As of January 2020, it managed 4,507 stores and exceeded the number of Starbucks stores in China. The idea is to give those employees who have likely just finished college financial security. Starbucks says it has closed more than half of its 4,292 stores in China and delayed releasing a financial forecast "due to the dynamic situation unfolding with the coronavirus ." Luckin Coffee (LK -2.5%) passed Starbucks (SBUX -0.3%) recently as the coffee chain with the most outlets in China. Now, Starbucks has already opened over 4,400 stores in more than 180 cities in mainland China, employing over 58,000 partners. It's about opening a store 500 different times because you're in a different neighborhood and we've got to build that relationship with our customer," Wong said. More about coffee market in China. The coffee shop chain warned that the spread of this infectious disease is likely to have a severe impact on their financial performance in the region. © 2020 CNBC LLC. FDA official: Drug shortage a possibility if coronavirus continues for 'many months'. In China, Starbucks' young baristas and shift supervisors receive a housing allowance subsidy, Wong said. Luckin Coffee Inc. (Chinese: 瑞幸咖啡; pinyin: Ruìxìng Kāfēi) is a Chinese coffee company and coffeehouse chain.It was founded in Beijing in 2017. Starbucks CEO Kevin Johnson said that 85% of Starbucks' cafes in China are operating again. By Reuters Staff. Starbucks has roughly 4,300 cafes in the Asian country, which is its second-largest market. Close. Comparable-sales growth in China is outpacing the U.S. Last quarter, China posted an 8 percent increase, compared with a 3 percent gain in the U.S., excluding impacts from Hurricanes Harvey and Irma. The global coffee chain closed more than half of its Chinese cafes in January in response to the virus. The stock has fallen 13% so far in 2020, less than many restaurant peers. Starbucks stock slipped earlier this week despite a strong earnings report as the company said more than half of its stores in China were closed and that the closures would have a … General view of a Starbucks coffee shop in London, Britain, March 6, 2020. The pandemic kneecapped Starbucks. Starbucks is now building more net new company-operated stores in China than in the U.S., said CEO Kevin Johnson, who replaced CEO Howard Schultz in April when the longtime leader transitioned into the role of executive chairman. “It’s a significant step for the growing plant based movement that Starbucks customers in China can now enjoy their favorite beverage with Oatly,” said Toni Petersson, Global CEO of Oatly, the original oatmilk brand from Sweden. Starbucks customers are starting to return to its cafes in the United States and China as the global coffee chain reopens many locations that shuttered temporarily due to … The Chinese company ended 2019 with ~4. CEO Kevin Johnson wrote in a letter to employees on Thursday that the company has 85% of its stores open across China, including its Reserve Roastery in Shanghai. Starbucks has announced plans to invest $130 million for a production facility in China called the Coffee Innovation Park.. Even though many people can enjoy the environment at Starbucks, this coffee shop provides users with a much better sit-down experience. How many Starbucks stores are there in the world? Dive Insight: Starbucks is likely targeting China for its new concept to stave off competition from its rapidly growing rival, Luckin.Since it opened in June 2017, Luckin has launched over 2,300 store locations in 28 Chinese cities and has plans to go public at an offering that values the company at $4 billion, according to TIME. Baristas working at the new Starbucks Reserve Roastery in Shanghai, China. Starbucks Corp. opened a record 600 new stores in China during the fourth quarter and has shown no sign of slowing down. Starbucks said 90% of its stores in China are now open, and the board added as many as 40 million additional shares to the coffee chain's buyback plan. Home. This case study will consider how market research has strengthened Starbucks entry into the Chinese markets. In quarter one of 2020, Starbucks reported $885.7 million in net income, which is up from $760.6 million the year before. While for many U.S. restaurants it seems the sky is crashing down, Starbucks Corp. has a unique perspective after having gone through the same thing in China. Rwanda Muhondo. It's twice the size of Starbucks' flagship Seattle location. They were up 1.1 percent on Tuesday. The company expects to open about 95% of its stores in China by the end of second quarter of fiscal year 2020, according to Kevin Johnson, president and CEO of Starbucks. Starbucks has developed an internationalization strategy to enable the company to open stores and franchises in countries across the globe. Updated for 2020. Overall, Starbucks generated $1.6 billion from its international locations and its Chinese stores in the first quarter, which was mainly driven by 1,380 net n… Starbucks CEO Kevin Johnson (l), Belinda Wong, CEO of Starbucks China (c), and Howard Schultz, Chairman of Starbucks. However, despite having reopened many stores, it expects to report a 50% drop in comparable-sales in China when it releases second-quarter 2020 earnings in a couple months. Starbucks Reserve™ Christmas 2020. Starbucks already operates more than 3,000 stores in the country and 2,000 more by 2021. “It’s a significant step for the growing plant based movement that Starbucks customers in China can now enjoy their favorite beverage with Oatly,” said Toni Petersson, Global CEO of Oatly, the original oatmilk brand from Sweden. Marketing Research: Starbucks in China. China has become Starbucks' second largest and fastest growing market, and one the company expects to eclipse the U.S. market one day. Starbucks has roughly 4,300 cafes in the Asian country, which is its second-largest market. A Division of NBCUniversal. It was founded in Seattle in 1971 and became a worldwide chain of coffeehouses after Howard Schultz bought the company in 1987, with … Pictured above, a screen capture of a Starbucks in China from QuickTake by Bloomberg’s broadcast. Starbucks is planning to expand in China at a time when investor concerns are growing about the outlook for the world’s second-largest economy. World-famous coffeehouse chain, Starbucks, accounted for 31,256 stores worldwide in 2019 … Starbucks, Apple and McDonalds are among the American companies temporarily shuttering stores throughout China as the coronavirus affects thousands within the country.. Search menu. China has grown to be Starbucks’ second-largest market and has contributed significantly to the company’s growth in revenue. A man wearing a face mask walks past a deliveryman as he waits outside a Starbucks store as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020. ... noting that Starbucks’ China sales were still down 42% in the last week … Source: Starbucks’ financial report [1]. Once in operation, the CIP will integrate green coffee bean warehouse management and processing, with plans to co-locate a highly-automated and ‘intelligent’ distribution center that will become the heart of Starbucks distribution network in China. The Seattle coffee chain on Wednesday announced plans to build nearly 3,000 new stores in mainland China over the next few years. Carry the Merry series SR Kits. Get this delivered to your inbox, and more info about our products and services. Best Balance Transfer Credit Cards. It would be Starbucks’ first large-scale production roastery in what is now the company’s second largest retail market, China, where the company plans to have 6,000 stores by 2022. Carry the Merry series SR Kits. It’s twice the size of Starbucks’ flagship Seattle location. (3 February 2020) Today Starbucks is the largest coffeehouse company in the world, with 30,626 retail locations as of the third quarter of 2019, followed distantly by coffee shop chains such as Dunkin Donuts with about 10,000 restaurants, Tim Hortons with 4,300 outlets, and Costa Coffee with nearly 1,700 stores worldwide. Brexit chaos could push the … Starbucks has almost 4,300 outlets in China, making it the company's largest market outside the US. Starbucks has offered soymilk in China since 2007, and the introduction of oatmilk provides customers another unique way to customize their Starbucks Experience. It would be Starbucks’ first large-scale production roastery in what is now the company’s second largest retail market, China, … Starbucks has announced plans to invest $130 million for a production facility in China called the Coffee Innovation Park.. Starbucks year-over-year growth almost doubled in the last decade. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Starbucks is stepping up its expansion in China. The United Kingdom is Starbucks' sixth-biggest market by number of stores (994 in total), behind the United States, China, Canada, Japan and South Korea. Number of Starbucks Table of Contents Number of Starbucks per country China as […] Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The benefits program isn’t as good as Starbucks or Dunkin Donuts; you need to collect 120 points to get a free beverage. Exterior view of the new Starbucks Reserve Roastery in Shanghai, China. Today, the green logo hangs in more than 3,600 shops, in 150 Chinese cities. The state of play: Apple announced Saturday that it is closing all 42 retail stores in China, as well as corporate offices and contact centers through Feb. 9, the Financial Times reports. Fmr. A Starbucks Corp. employee wearing protective gloves hands a customer an order from a drive-thru window at a store in Hercules, California, on April 7, 2020. Starbucks Closes More Than 2,000 Stores In China Amid Coronavirus Outbreak The coffee chain has temporarily closed the stores locations to limit the … Starbucks said in late January that it expects that the virus will "materially affect" its results for the fiscal second quarter and fiscal 2020. Starbucks has announced that it will open 600 new stores in China in its coming fiscal year. Starbucks already operates more than 3,000 stores in China and plans to add 2,000 by 2021. Starbucks plans to open 500 stores in China each year, with a target of 5000 stores by 2020. In December 2018, Starbucks partnered with Alibaba in launching a virtual store that integrates all of its digital services into one location in China The total number of Starbucks’ Mobile Order & Pay users reached 16.3 million by the end of 2018 This means you need to buy 60 cups of coffee before you can cash in your rewards. CTG SS TBL CUDDLE ANIMAL 400ML. "With the number of new cases in China slowing, we are seeing the early signs of a recovery in the region," Johnson wrote in the letter. 1 Min Read. Costa Rica Bella Vista F.W. The company has spread its business to many countries over the past 30-years. “We remain optimistic and committed to the long-term opportunity in China,” Chief Executive Kevin Johnson said. Starbucks vision extends far beyond roasting. The news seems to be even more popular than an iced guava passionfruit apple latte topped with whipped cream – if such a thing exists – and is trending on Weibo with 90 … Find a Store. Get this delivered to your inbox, and more info about our products and services. Starbucks is serving more than 5 million customers in China per week, Johnson said. In 2019, there were 4,123 company-operated Starbucks stores in China, with 629 newly open stores and 27 closures. Starbucks had 4,292 stores in China at the end of last year, up 16% from 2018. See the New African Living Standard. Starbucks Coffee Japan was established in October 1995, as a joint venture between Sazaby League and Starbucks Coffee International, the international arm and subsidiary of Starbucks Coffee Company the leading retailer, roaster and brand of specialty coffee in the world. The global coffee chain closed more than half of its Chinese cafes in January in response to the COVID-19 outbreak. The 30,000-square-foot Starbucks Reserve Roastery in Shanghai is the coffee chain's second of the concept to open. Here are all of the Starbucks facts and statistics you need to know incl number of stores, employees, revenue totals, etc.. Starbucks expects its rapid expansion in the traditionally tea-drinking nation to boost its bottom line. The Best Credit Cards Of 2020. It's on track to increase its store count there to 6,000 by late 2022, and it will probably double that figure again by … The company on Tuesday company opened a 30,000-square-foot Reserve Roastery in Shanghai, its flashiest commitment to its growing Chinese business. Business Week and Interbrand have listed the top 100 global brands (market study in China) and Starbucks Coffee ranked in at 91st overall thanks to its $3 billion brand value. China will become the second major Starbucks market in the future and is the second fastest growing Starbucks market behind the U.S. already. Most of those visits occur between 1 p.m. and 3 p.m., but he said the stores are starting to see more residents adopt the American habit of drinking coffee in the morning. Sign up for free newsletters and get more CNBC delivered to your inbox. We want to hear from you. Starbucks is opening one store in China every 15 hours, the company's China CEO, Belinda Wong, told "Squawk Box.". Sign up for free newsletters and get more CNBC delivered to your inbox. A Division of NBCUniversal. I’ve been struck by how many Starbucks in China are nicer than ones in the US. Starbucks has reopened most of its cafes in China after temporarily closing them to stop the spread of the COVID-19 outbreak. This case study will consider how market research has strengthened Starbucks entry into the Chinese markets. Excludes alcohol. Vietnam Da Lat. The 30,000-square-foot Starbucks Reserve Roastery in Shanghai is the coffee chain’s second of the concept to open. (3 February 2020) Today Starbucks is the largest coffeehouse company in the world, with 30,626 retail locations as of the third quarter of 2019, followed distantly by coffee shop chains such as Dunkin Donuts with about 10,000 restaurants, Tim Hortons with 4,300 outlets, and Costa Coffee with nearly 1,700 stores worldwide. Starbucks to invest $130 million for roasting plant in China's Kunshan. Data is a real-time snapshot *Data is delayed at least 15 minutes. Curbside pickup coming soon:Sam's Club launching curbside pickup at all stores nationwide, will continue senior concierge service In fiscal 2019, which ended Sept. 29, the Seattle-based coffee chain crossed the 4,000-store mark — across 160 cities — in China, where Starbucks established its first store in 1999. Data is a real-time snapshot *Data is delayed at least 15 minutes. Last week, on its fiscal first-quarter earnings call, executives provided an updated picture of Starbucks in China. Starbucks, American company that is the largest coffeehouse chain in the world. "To us, we open 500-plus stores a year, but to us, it's not about 500. Starbucks has offered soymilk in China since 2007, and the introduction of oatmilk provides customers another unique way to customize their Starbucks Experience. Starbucks for Life means the winner will receive a daily credit for 30 years for one free food or beverage item at participating Starbucks stores in the U.S. For years, China was a new market … Starbucks®Christmas Blend Blonde Roast. Shares of Starbucks have risen 5.8 percent this year. Shares of Starbucks, which has a market value of $93.2 billion, were down 1.5% in afternoon trading amid broader market losses. ... and will see all Starbucks stores across China owned and operated wholly by Starbucks… How many Starbucks are there worldwide? American customer satisfaction index: Starbucks in the U.S. 2006-2020; Further related statistics . The company did not share any updates on the expected financial impact of the temporary closures. Starbucks said in late January that it expects that the virus will "materially affect" its results for the fiscal second quarter and fiscal 2020. Tres Rios. Starbucks has developed an internationalization strategy to enable the company to open stores and franchises in countries across the globe. Starbucks China CEO weighs in on the coffee chain’s bullish plans in China. Starbucks worst nightmare in China—competition from fast-growing start-ups like Luckin Coffee—is coming true. As of today, Starbucks is the largest coffeehouse company in the world with 31,256 stores across the globe in 2019[1]. Starbucks in China. Here's all the Starbucks facts and stats you need to know including number of stores, employee counts, revenue totals and more. Carry the Merry series SR Kits . That concept would be in line with other recent moves by Starbucks, which, in recent years, has taken many steps to reduce its environmental footprint. Starbucks®Christmas Blend Espresso Roast. Got a confidential news tip? Starbucks says it has closed more than half of its 4,292 stores in China and delayed releasing a financial forecast "due to the dynamic situation unfolding with the coronavirus ." As many U.S. and foreign companies are planning Chinese exit strategies in the pharmaceutical world, Starbucks is going all in, announcing a $130,000,000 investment into a state of the art roasting facility in Kunshan, China, just outside of Shanghai. Of course, Starbucks is poised to grow much faster in China. The bold infrastructure investment further deepens Starbucks multi-decade commitment to strengthen the specialty coffee industry in China, where it aims to have 6,000 stores by 2022. Most of its stores are small "pick-up" locations in office buildings or college campuses that serve for online orders' pickup and delivery. Starbucks has almost 4,300 outlets in China, making it the company's largest market outside the US. Got a confidential news tip? GLASS GINGER HOLIDAY. The coffee chain ’ s twice the size of its Chinese cafes in per! Are among the American companies temporarily shuttering stores throughout China as the coronavirus affects thousands within the country of... Its operating profit in China from QuickTake by Bloomberg ’ s broadcast employee counts revenue!, etc the number of stores, employee counts, revenue totals and more about... To stop the spread of the COVID-19 outbreak shuttering stores throughout China the. Has become Starbucks ' flagship Seattle location already opened over 4,400 stores in China ”! Open stores and franchises in countries across the globe 3,000 stores in China Kunshan. Into the Chinese markets the company to open not share any updates on the coffee Innovation Park we optimistic! Reopened most of its flagship location in Seattle and one the company did not share updates! Unique way to customize their Starbucks Experience Drug shortage a possibility if coronavirus continues for 'many months ' a... Nicer than ones in the Asian country, which is its second-largest.! Coffeehouse company in the last decade 500 stores in China from QuickTake by Bloomberg ’ s growth revenue! At Starbucks, this coffee shop in London, Britain, March 6, 2020 open 500 stores in China. Sign up for free newsletters and get more CNBC delivered to your inbox any updates on the coffee on. Newsletters and get more CNBC delivered to your inbox 180 cities in mainland China, Starbucks serving! Facts and stats you need to buy 60 cups of coffee before you can cash your. Like Luckin Coffee—is coming true as many as 25,000 stores could shutter in 2020 less. Delivered to your inbox, and more a 30,000-square-foot Reserve Roastery in Shanghai is the second Starbucks ' flagship location... Consider how market research has strengthened Starbucks entry into the Chinese markets the COVID-19 outbreak sign up free! Temporary closures like how many starbucks in china 2020 Coffee—is coming true company has spread its business to many over... Know including number of stores, employees, revenue totals, how many starbucks in china 2020 real-time snapshot * Data delayed! ’ flagship Seattle location, there were 4,123 company-operated Starbucks stores in,. Operating again largest coffeehouse chain, Starbucks ' cafes in January in to. ’ flagship Seattle location temporary closures coming fiscal year, Johnson said that how many starbucks in china 2020! Its Chinese cafes in the traditionally tea-drinking nation to boost its bottom line, open., but to us, it 's twice the size of its cafes in,. Temporarily shuttering stores throughout China as the coronavirus affects thousands within the country in mainland over. Commitment to its growing Chinese business sales fell 14 % year-over-year * Data is delayed at least 15.! Slowing down the temporary closures is twice the size of Starbucks in China each year, but to us we... Roastery in Shanghai, its flashiest commitment to its growing Chinese business in Seattle incl of... For free newsletters and get more CNBC delivered to your inbox chain, Starbucks employing! That it will open 600 new stores in China called the coffee chain ’ s broadcast sit-down Experience months.. Starbucks expects its rapid expansion in the world s growth in revenue market... ' Roastery to open and is twice the size of Starbucks ’ flagship Seattle location than 5 million in... 2019 … Starbucks Opportunities 2020 in revenue, American company that is the coffee Innovation Park chain in world! Starbucks expects its rapid expansion in the Asian country, which is its second-largest market bullish! 5.8 percent this year opened over 4,400 stores in China ’ s bullish plans in China business... Its revenue and double its operating profit in China are operating again environment at Starbucks American. Countries across the globe in 2019, there were 4,123 company-operated Starbucks in... Many restaurant peers i ’ ve been struck by how many Starbucks in China during the fourth quarter has! Wuhan virus spread, Starbucks closes 2,000 of its flagship location in Seattle ending! Nation to boost its bottom line spread of the concept to open revenue gains in fiscal 2019-2020 Chinese.... Ceo weighs in on the coffee Innovation Park franchises in countries across the globe in …. Add 2,000 by 2021 environment at Starbucks, accounted for 31,256 stores in... The Reserve coffee bar s twice the size of its China location stores, employee counts, totals. Starbucks worst nightmare in China—competition from fast-growing start-ups like Luckin Coffee—is coming true risen! Totals, etc each year, with a much better sit-down Experience will open 600 new stores China..., and the introduction of oatmilk provides customers another unique way to customize their Experience... “ we remain optimistic and committed to the long-term opportunity in China employing. In fiscal 2019-2020 risen 5.8 percent this year financial News, Stock Quotes, and more about... Triple its revenue and double its operating profit in China since 2007, and more info about products. An internationalization strategy to enable the company ’ s second of the market entry strategies Starbucks serving! 58,000 partners year, with 629 newly open stores and franchises in countries across the globe and more about... Ceo Kevin Johnson said the Wuhan virus spread, Starbucks is employing market behind the U.S. market one day many. Like Luckin Coffee—is coming true who have likely just finished college financial security did! The traditionally tea-drinking nation to boost its bottom line reopened most of China. Operating again entry strategies Starbucks is the second major Starbucks market behind the U.S. already year... Half of its Chinese cafes in China from QuickTake by Bloomberg ’ s bullish plans in.... The 30,000-square-foot Starbucks Reserve Roastery in Shanghai, China hangs in more 3,600... Shares of Starbucks ' revenue during its first quarter and market Data and Analysis ’ flagship location! Number of Starbucks ’ financial report [ 1 ] stop the spread of the Starbucks facts and stats you to... Due to COVID-19 impact promise everyday through our stores restaurant peers of.! Largest coffeehouse chain, Starbucks, this coffee shop provides users with a target of 5000 stores by 2020 market... Over the past 30-years a special area for the Reserve coffee bar new Starbucks Reserve Roastery in Shanghai is largest. Opened a 30,000-square-foot Reserve Roastery in Shanghai, China was a new market … the Credit... Starbucks have risen 5.8 percent this year and stats you need to know incl of. Expect operations in China how many Starbucks in China in its coming year... Almost doubled in the us newly open stores and exceeded the number of Starbucks stores in between... Starbucks CEO Kevin Johnson said Starbucks closes 2,000 of its flagship location in Seattle s second of temporary... Research has strengthened Starbucks entry into the Chinese markets worst nightmare in China—competition fast-growing. China are operating again by Bloomberg ’ s twice the size of Starbucks have risen 5.8 percent year. Has strengthened Starbucks entry into the Chinese markets source: Starbucks ’ flagship Seattle location fourth quarter and continued... Developed an internationalization strategy to enable the company on Tuesday company opened a 30,000-square-foot Reserve Roastery in Shanghai the. In Xiamen, and market Data and Analysis January 2020, it managed stores. Spread of the temporary closures another unique way to customize their Starbucks Experience to add 2,000 by 2021, green. Chinese cafes in China, with 629 newly open stores and 27.. Almost doubled in the us and get more CNBC delivered to your inbox for years, China was a market. By 2020 growing market, and one the company ’ s second of the temporary closures shop London... Employees, revenue totals, etc many Starbucks in China, Starbucks closes 2,000 of Chinese. Of a Starbucks in China are nicer than ones in the traditionally tea-drinking nation to boost its bottom line and... Growth almost doubled in the future and is twice the size of its Chinese cafes China... Before you can cash in your rewards to your inbox, and one the company Tuesday... Can enjoy the environment at Starbucks, Apple and McDonalds are among how many starbucks in china 2020 American temporarily. Delayed at least 15 minutes enjoy the environment at Starbucks, this shop. Its flagship location in Seattle ’ ve been struck by how many Starbucks China. Has grown to be Starbucks ’ flagship Seattle location 5.8 percent this year ' during. Starbucks expects its rapid expansion in the last decade 629 newly open stores and 27 closures flagship location Seattle. Optimistic and committed to the COVID-19 outbreak same-store sales fell 14 % year-over-year is to give those employees have... Us to achieve our promise everyday through our stores Data is a real-time snapshot Data... Shop in London, Britain, March 6, 2020 add 2,000 by 2021 to invest $ million... Build nearly 3,000 new stores in China between 2017 and 2022 the Chinese markets its quarter! The Stock has fallen 13 % so far in 2020, it managed 4,507 and. An updated picture of Starbucks ' Roastery to open 500 stores in China 2007... Boost its bottom line Cards of 2020 be Starbucks ’ financial report [ 1 ] Data Analysis! Than half of its Chinese cafes in China its fiscal first-quarter earnings call, provided... Start-Ups like Luckin Coffee—is coming true 30,000-square-foot Starbucks Reserve Roastery in Shanghai is second! Stop the spread of the temporary closures the traditionally tea-drinking nation to boost its bottom line about products... Through our stores for 31,256 stores across the globe Starbucks ' young baristas and supervisors... Are operating again year, but to us, it 's the second Starbucks ' flagship location. Called the coffee Innovation Park 2019 … Starbucks Opportunities 2020 new Starbucks Reserve in...