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Starbucks invests RMB 900 mln to build "coffee innovation park" in China, its largest single investment outside the U.S
CKN
2020/03/13 06:51:42
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Mar 13, 2020 (China Knowledge) - Today the signing ceremony of Starbucks China "coffee innovation industrial park" project was held in Kunshan City in Jiangsu Province. Starbucks plans to build an innovative coffee industrial park in China that integrates coffee roasting, intelligent warehousing, and logistics and is scheduled to complete by 2022.

It is made known that Starbucks will invest about RMB 900 mln (USD 130 mln) to build the first phase of the project - a coffee roasting factory which is the core of the park.

This is Starbucks' largest investment outside the U.S and its first productive strategic investment in the Asia-pacific market, aiming to make China an important node in Starbucks' global coffee-roasting network. Currently, Starbucks has six coffee roasters in the world, five in the U.S and one in the Netherlands.

"Despite temporary difficulties and challenges posed by the outbreak of COVID-19, our commitment to long-term development in the Chinese market has never wavered, and is stronger than ever.” Said Wang Jingying, CEO of Starbucks China.

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