Starbucks is reportedly planning to open a new store in mainland China every 15 hours until 2022.
With 3,300 stores, China is currently Starbucks’ second-largest market, just behind the United States.
The move, which results to 6,000 new outlets, is expected to multiply the coffee giant’s revenue in the country threefold.
The plan comes amid a general concern on increasing tensions in trade between the U.S. and China.
CEO Kevin Johnson, who attended an investor conference in Shanghai, told Bloomberg:
“China has a long runway of opportunity for Starbucks. We can’t control what happens in the geopolitical situation. We are not immune to it, but we take a long-term view.
“We have built a business here in China over 20 years. We have built that business in China, for China.”
Starbucks also struck a $7.2 billion deal with Nestle, which would help it realize its aggressive expansion plan.
In addition to new stores, Starbucks will also launch a new program for online and mobile delivery in the country, where more and more people are transacting digitally.
The company will also offer a new line of pre-made coffee and cold tea to Chinese customers, who are increasingly choosing to drink beverages on the go, according to CNN.
Featured Image via Flickr / dunhilaryu (CC BY 2.0)
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