Starbucks reiterates plans to open up to 1,000 Reserve store locations worldwide
Starbucks Coffee earlier announced the opening of its first Reserve store, a new store format from the company's Siren Retail business dedicated to its premium Reserve brand. The Reserve store format was first introduced at Starbucks Investor Day conference in December 2016, as part of the overall premium store segmentation which would be developed globally, over time. It includes up to 20-30 Roasteries, 1,000 Reserve stores and 20% of the Starbucks store portfolio becoming Starbucks Reserve bar locations. The company has also announced that it will be bringing stand-alone Princi stores to Seattle, Chicago and New York and plans to open Roasteries in Milan and New York later this year in addition to Tokyo and Chicago in 2019. "Today marks another significant milestone as we have taken everything we have learned from our highly successful Roasteries, the relevancy of the third place and the overwhelming reception of freshly baked Princi food to an environment that will re-define customer connection and continue to serve as a halo to the rest of the business," said Howard Schultz, Starbucks executive chairman.