Starbucks is opening one store in China every 15 hours, the company’s China CEO Belinda Wong told “Squawk Box.”
China has become Starbucks’ second largest and fastest growing market, and one the company expects to eclipse the U.S. market one day. Starbucks already operates more than 3,000 stores in the country and plans to increase that number to 5,000 by 2021.
The company opened a 30,000-square-foot Reserve Roastery in Shanghai, its flashiest commitment to its growing Chinese business. It’s the second Starbucks’ Roastery to open and is twice the size of its flagship location in Seattle.
