Seattle-based Starbucks Corp has announced plans to open coffeehouses in Mexico by the end of this year, as the start of a plan to build about 900 stores in Latin America by 2005.
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Company chairman Howard Schultz said that the foray to Mexico marks the multinational’s first launch into the volatile Latin American market, after which it will consider entering Argentina, Brazil, Chile, Colombia, Peru, Puerto Rico and Venezuela.
The company will open between ten and 15 new stores in the first year, in partnership with SC de Mexico SA. Schultz told the Wall Street Journal: “We plan to have a very significant presence throughout Mexico.”
The coffee giant is also expected to announce its Indonesia expansion plans.
Starbucks’ operates more than 1,000 stores outside its core US business. International business accounts for about 20% of total store sales.
