Starbucks Announces Much Anticipated Entry into the Dynamic Vietnam Market
Starbucks Coffee Company (Nasdaq: SBUX) today announced the expansion of its long-term relationship with Hong Kong Maxim's Group to now operate Starbucks® stores in Vietnam. Scheduled to open the first Starbucks® store in Ho Chi Minh City in early February 2013, Starbucks reiterated today that Asia continues to be a significant growth driver for the Company and is proud to be partnering with Hong Kong Maxim's Group to enter Vietnam this year.
Starbucks has granted Hong Kong Maxim's Group subsidiary, Coffee Concepts (Vietnam) Limited, the license agreement for the Vietnam market and both teams are incredibly pleased to expand the relationship beyond Hong Kong and Macau. Coffee Concepts (Vietnam) Limited will be Starbucks licensee for operating Starbucks stores in this dynamic market, delivering the legendary Starbucks Experience to customers, and maximizing the growth potential of the Starbucks brand in Vietnam.
“Vietnam is one of the most dynamic and exciting markets in the world and we are proud to add Vietnam as the 12th market across the China and Asia Pacific region,” said John Culver, president, Starbucks China and Asia Pacific. “Starbucks is deeply respectful of Vietnam's long and distinctive local coffee culture. We know coffee is a national pride for many Vietnamese and as such, we look forward to contributing and growing Vietnam's already vibrant coffee industry. As we continue to source more Vietnamese high-quality, arabica coffee we want to leverage our scale to bring the best of Vietnam's coffee traditions to the rest of the world.”
Starbucks has built the brand by delivering a consistent, authentic in-store experience to customers around the globe. The Starbucks Experience is built on sourcing high-quality arabica coffee, delivering high-quality product innovation and surprising and delighting customers with an uplifting experience through engaged, passionate and knowledgeable baristas.
“Our partnership with Starbucks has more than 10 years of history and we are proud to deliver the Starbucks Experience to our customers in Hong Kong and Macau today,” said Michael Wu, Chairman and Managing Director, Hong Kong Maxim's Group. “We are looking forward to leveraging our expertise and deep understanding of the Starbucks brand to welcome Vietnamese customers to our stores, earning their trust and respect with the unparalleled Starbucks Experience, known by customers around the globe.”
With 41-years of coffee heritage and expertise, Starbucks is the coffee leader globally and has built the brand on its passion and pursuit of the highest quality coffee. Starbucks already purchases a notable amount of some of the highest-quality arabica coffee from Vietnam and is committed to sourcing more arabica coffee from the Vietnam region over the long-term. Starbucks will continue to promote responsible business practices and production standards within its existing and prospective supply chains and will work closely with local coffee farming communities to elevate the quality of arabica coffee and introduce customers globally to the rich Vietnamese coffee heritage.
“Starbucks provides much more than just the best cup of coffee — we will offer a community gathering place where people come together, connect with family and friends and celebrate the local Vietnamese coffee culture and heritage,” said Jinlong Wang, president, Starbucks Asia Pacific. “We are looking forward to serving our customers in Vietnam in an authentic and locally relevant way. Specifically, we hope customers will join us in the stores to personalize their favorite Starbucks® beverage and experience the unique third place between work and home that Starbucks is known for globally.”
Starbucks today operates more than 3,300 stores across 11 countries in the China and Asia Pacific region. Through its licensed partner, Coffee Concepts (Hong Kong) Limited, a subsidiary of Hong Kong Maxim's Group, Starbucks operates more than 130 stores in Hong Kong and Macau.
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting the highest-quality arabica coffee in the world. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at www.starbucks.com.
About Hong Kong Maxim's Group
Founded in 1956, Hong Kong Maxim's Group now operates over 760 outlets in Hong Kong and China. The Group offers a diversified service comprising Chinese, Asian and European restaurants, fast food outlets, cake shops, coffee shops, Japanese chain restaurants and institutional catering, while providing a range of festive products, spanning from mooncakes, Chinese New Year puddings, rice dumplings to Chinese preserved meat. Hong Kong Maxim's Group also operates air catering services at 11 airports in China, including Beijing and Shanghai, through joint ventures.
Starbucks Public Affairs, China and Asia Pacific
Christina McPherson, +1 206-318-7100