Starbucks Gets More Control of Its Operations in China
Submitted by Bill Belew on Wednesday, 25 October 2006No Comment
Starbucks Corp. opened its first outlet in China in 1999. In 7 years the coffee maker has brewed more than 200 locations.
Until 2004 China required foreign companies to be joint ventures before setting up shop. Now those restrictions have been eased.
As a result, Starbucks purchased a Hong Kong Co. that had operated more than 60 of Starbuck’s coffee houses.
The Hong Kong firm, High Grown Investment Group Ltd, operated Starbucks outlets in Beijing and Tianjin.
Starbucks says the acquisition will allow it to be more efficient and accelerate growth in China.
That’s good news. China’s workers need more caffeine to pump some life in to the economy, eh?
What do you think?
It was always hard to get a good cup ‘o joe in Hong Kong and Beijing before except in the ‘International Hotels.’ Maybe this will fix it!
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