Starbucks aims to build 600 new stores per year in China by end of FY22
Starbucks Corporation presented the company's key drivers that will fuel China's market growth over the next five years at its first-ever China Investor Conference. Through the company's purpose-driven growth agenda in China, Starbucks is focused on enhancing its immersive, coffee-forward approach to elevating the third place, building deeper customer relationships in digital and extending the Starbucks Experience to the on-the-go and at-home consumers. Supported by these initiatives, the company announced plans to build 600 net new stores annually over the next five years in Mainland China - a goal that will double the market's store count from the end of FY17 to 6,000 across 230 cities. The company also announced plans to more than triple revenue and more than double operating income in China by the end of FY22, relative to FY17 levels.