Starbucks (NASDAQ:SBUX) announced today it will increase its
already strong presence in Europe by opening coffeehouses in Bulgaria
and Portugal next year as part of its strategy to develop business
clusters within Europe, the Middle East and Africa.
Starbucks Coffee EMEA recently extended its joint venture
agreement with the Marinopoulos Group to open stores in Bulgaria; the
first will open in the capital city of Sofia in 2008. It also
broadened its agreement with Spanish joint venture partner Grupo VIPS
to open stores in Portugal. The first store is expected to open in
Lisbon sometime next year.
"Extending the reach of our agreements with established business
partners gives us the capability to gain leverage," said Cliff
Burrows, president of Starbucks Europe, Middle East and Africa. "We
look forward to bringing our high quality coffees and the Starbucks
Experience to these important emerging consumer markets."
Starbucks successful five year partnership with Athens-based
Marinopoulos Group now spans six markets including Greece, Cyprus,
Romania, Switzerland, Austria and the addition of Bulgaria. Likewise,
its joint venture relationship of more than five years with
Madrid-based Grupo VIPS covers three markets including Spain, France
and now Portugal.
About Starbucks
Starbucks Coffee Company provides an uplifting experience that
enriches people´s lives one moment, one human being, one extraordinary
cup of coffee at a time. To share in the experience, visit
www.starbucks.com.
