Starbucks to double its Taiwan coffee shops to 350 in 5 years
President Starbucks Coffee Corp, which overseas the US-based Starbucks operations in Taiwan, plans to double the number of outlets in Taiwan to 350 within five years, a company official said Sunday.
'Since we opened the first Starbucks coffee shop in Taiwan in 1988, we have been enjoying a 20 per cent increase in the number of new shops and revenue annually,' Hsu Kuang-yu, president of the President Starbucks Coffee Corp, said.
'There is still room for expansion. Our target is to more than double the number of Starbucks outlets to more than 350 within five years,' he said.
Starbucks currently has 171 outlets in Taiwan, and hopes to bring the total number to 189 by the year-end.
Hsu said Starbucks, while continuing its policy of providing the best coffee and the best service, will put more emphasis on food because 'when people drink coffee, they also want to eat food.'
Hsu acknowledged that Starbucks faces fierce competition from other coffee chain stores in Taiwan but has confidence that Starbucks can expand its market share from the current 15-20 per cent to 40 per cent.
Currently there are some 2,000 coffee shops in Taipei, half of them coffee chain stores like Starbucks, Dante, Barista, IS Coffee, Ikari and Mr Brown. The price of a cup of coffee ranges from 35 Taiwan dollars (one US dollar) at Dante to 50 Taiwan dollars (1.5 US dollars) at Starbucks. The largest chain is the Starbucks.