Starbucks is betting on China in a big way. Despite the country’s slowing economy, the world’s largest coffee chain is planning to add thousands of coffee shops over the next 5 years.
Story continues below
On Tuesday, CEO Howard Schultz said it aims to open 500 stores in China every year for the next 5 years.
Starbucks, which apparently hasn’t seen a slowdown in China, currently runs 2,000 coffee shops in 100 Chinese cities. That number will more than double at the end of the 5 year expansion.
The company plans to create about 10,000 a year in China through 2019 as it expands its footprint.