Starbucks to popularize non-coffee products worldwide

Starbucks hopes China will become its largest market outside the United States, said Wang Jinlong, chairman of Greater China Starbucks, in Beijing on March 26 and he also said Starbucks hopes to bring more Chinese local products into the global market.

Starbucks released nine new tea drinks in China in March and announced it plans to market several new non-coffee products.

"Starbucks holds high expectations of the Chinese market and hopes a faster development through innovation," Wang said.

Starbucks recently released a quarterly report on April 21. Net profit was reported at 217.3 million U.S. dollars, compared with 25 million U.S. dollars over the same period of last year and sales volume rose to 2.5 billion U.S. dollars, 9 percent higher than previous year. Starbucks also raised its earnings-per-share target for 2010 fiscal year and expects large-scale expansion with scrupulousness in China.

Thousands of chain stores are planned in China. Since the sharp business contraction in U.S. market last year, Starbucks has been looking for a new business growth region. Howard Schultz, CEO of Starbucks, said the company needs careful preparation for the expansion program in China.

By People's Daily Online