Starbucks has announced a new plan to expand its current store portfolio from 30,000 stores to 47,000 stores globally by 2030. This ambitious growth plan, which is expected to create an estimated 7,000 jobs globally, will involve the proportionate addition of both company-owned stores and licensed partner locations. According to the plan, Starbucks will add stores in underpenetrated markets such as China, India, and Japan as well as in the U.S. and other major markets across Europe, the Middle East, and Africa. Additionally, the company has set a goal of reaching $100 billion in annual revenues by 2030, up from its current $26.5 billion. This goal is said to be heavily reliant on the success of its store expansion plans. Starbucks also plans to aggressively employ digital technologies to drive growth and customer satisfaction, as well as accelerate progress on its sustainability goals.
Starbucks unveils plan to add 17,000 locations by 2030
