Starbucks to enter Cambodia, its 16th market in the China/Asia Pacific region, building on a 15-year strategic licensing partnership with Hong Kong Maxim’s Group
HONG KONG; August 27, 2015 – Starbucks Coffee Company (NASDAQ: SBUX) today announced plans to open its first location in Cambodia by the end of 2015, representing the company’s 16th market in the fast-growing China/Asia Pacific (CAP) region.
The first location will open in the capital city of Phnom Penh by the end of 2015, at the newly expanded Phnom Penh International Airport. Starbucks expects to open its second store in downtown Phnom Penh in early 2016.
Building on a 15-year collaboration with Hong Kong Maxim’s Group, Starbucks has entered a licensing agreement to open Starbucks® stores in Cambodia with Coffee Concepts (Cambodia) Limited, part of Hong Kong Maxim’s Group. Coffee Concepts (Cambodia) Limited will be responsible for delivering Starbucks iconic coffeehouse experience to customers and stewarding the brand’s growth in the country. This agreement builds on Maxim’s experience in successfully investing in and growing the Starbucks brand across Hong Kong, Macau and, most recently, Vietnam.
“We are pleased to be extending our partnership with Starbucks to Cambodia and look forward to leveraging our expertise and knowledge of the Starbucks brand to deliver the Starbucks Experience to customers in the market,” said Michael Wu, Chairman and Managing Director, Hong Kong Maxim’s Group.
For 44 years, Starbucks has built its brand by delivering a consistent, authentic in-store experience to customers around the globe. The Starbucks Experience is built on sourcing high-quality arabica coffee, delivering high-quality product innovation and surprising and delighting customers with an uplifting experience through engaged, passionate and knowledgeable baristas.
Starbucks today operates more than 5,200 stores and employs more than 80,000 partners (employees) across 15 markets in the CAP region. Through its licensed partner Coffee Concepts (Hong Kong) Limited, a subsidiary of Hong Kong Maxim’s Group, Starbucks operates more than 150 stores in Hong Kong and Macau. Similarly, Starbucks operates 15 stores in Vietnam through Viet Idea Food and Beverages Limited, a sub-licensee of Coffee Concepts (Vietnam) Limited, also a subsidiary of Hong Kong Maxim’s Group.
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 21,000 stores around the globe, Starbucks is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit Starbucks stores or online at Starbucks.com and news.starbucks.com.
Hong Kong Maxim’s Group
Founded in 1956, Hong Kong Maxim’s Group is a leading food & beverage company comprising of Chinese, Asian and European restaurants, quick service restaurants, bakery shops and institutional catering, while providing a range of festive products, including the award-winning Mei-Xin Mooncakes. The Group is also the licensee of renowned brands including Starbucks Coffee, Genki Sushi and IPPUDO ramen and The Cheesecake Factory in various territories. Altogether, the Group operates over 900 outlets in Hong Kong, PRC and Vietnam. It also established the first Sino-Foreign joint venture in PRC in 1980 and now delivers air catering service in 11 cities through joint ventures.