Starbucks Coffee has signed an agreement with Coffee Concepts Thailand to license its retail business in the country.
Coffee Concepts Thailand is a joint venture (JV) established by Maxim’s Caterers and its partner F&N Retail Connection.
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As part of the deal, Coffee Concepts will gain exclusive rights to operate and develop retail stores under Starbucks brand. Under this JV, Maxim’s Caterers will oversee the retail operations and new store development in Thailand.
Starbucks International channel development and global coffee and tea group president John Culver said: “This is a significant move for our company and we are pleased to transition the Thailand business to Maxim’s Caterers and F&N Retail Connection with their focus on accelerating new store development to realize the full potential of this important market.”
Maxim’s Caterers partnered with Starbucks in 2000 with the opening of its first location in Hong Kong. The company currently operates more than 400 Starbucks stores in Cambodia, Hong Kong, Macau, Singapore and Vietnam.
Maxim’s Caterers chair and managing director Michael Wu said: “We look forward to leveraging our expertise and deep understanding of the Starbucks culture and brand to build on the unparalleled service, craft and passion of our Thai partners (employees), which will propel the business for the future.
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By GlobalData“We look forward to continuing to deliver the unique Starbucks Experience to Thai customers as we grow.”
Starbucks entered Thailand with the opening of its first store at Central Chidlom in Bangkok. The company currently operates 372 stores across the market.
In another development, the coffeehouse chain introduced its Starbucks Now mobile order and pay experience across 300 stores in Beijing and Shanghai.
The company also expanded its global presence by opening its 30,000th store Starbucks Reserve Shenzhen Bay Mix City, in Shenzhen, China, in March this year.
