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How Starbucks Was Able To Win Over China
2 years ago
CNBC
CNBC original
finance
financial news
business
business news
Starbucks
international
chain
coffee chain
big business
international business
chain restaurants
American brands
coffee culture
american coffee
China
store opening
franchises
tea
zero-Covid policy
lockdown
Covid 19
Chinese government
Luckin Coffee
Hey Tea
coffee giant
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How Starbucks Was Able To Win Over China
A Starbucks opens every nine hours in China. Since the coffee giant opened its first store in China in 1999, it has launched 6,000 stores around the mainly tea-drinking nation and plans to increase its number of stores to 9,000 by 2025. Competitors such as Luckin Coffee and Hey Tea have attempted to outpace Starbucks’ success, however they’ve come up short. Although sales took a hit due to zero-Covid lockdowns, analysts are confident the chain will bounce back with the strong fourth-quarter sales in 2022. How did the Seattle-based coffee giant find such massive success in a country known for its love of tea? » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #cnbc How Starbucks Was Able To Win Over China
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