Starbucks VIA Ready Brew Six-Country Asia Expansion Starts in Singapore
SINGAPORE; Sept. 6, 2011 – Today, Starbucks Coffee Company (NASDAQ: SBUX) announced the expansion of Starbucks VIA® Ready Brew to Singapore, one of its first six additional Asia Pacific markets to launch this breakthrough innovation for the company. By the end of September, Starbucks stores in South Korea, Indonesia, Malaysia, Singapore, Thailand and Australia will carry Starbucks VIA® Ready Brew, bringing its availability to all Starbucks locations in Asia. This expansion further builds upon the Company's coffee leadership and expertise through a broadened coffee portfolio offering in the region.
"Starbucks VIA® Ready Brew is a revolutionary instant coffee that helps extend the relevance of the Starbucks brand beyond our stores, and expand our customer-base across Asia-Pacific," said Jinlong Wang, president, Starbucks Asia Pacific. "We see immense opportunity for Starbucks VIA® in Asia, especially with the popularity and significant size of the region's instant coffee category. We are confident that Starbucks VIA® will create new market demands for premium single-serve coffee to enjoy at home or on-the-go and become a new growth engine for Starbucks in the region."
According to Euromonitors 2010, the instant coffee market size across Asia Pacific's markets in which Starbucks operates is approximately US$4billion. This significant business growth opportunity for Starbucks in the region, coupled with the strong appeal and repeat rate of the product in the U.S., U.K., China, Philippines and Japan, reinforces the company's view that Starbucks VIA® will become another US$1 billion Starbucks brand over time. Since its launch in September 2009, Starbucks VIA® has surpassed the $200 million mark in global sales (as of March 2011).
For more than 20 years, Starbucks looked for a way to deliver high-quality coffee in a convenient way for customers to enjoy a great cup of coffee anywhere at any time. Starbucks VIA® Ready Brew is made from 100 percent arabica instant and microground coffee that is rich and full-bodied in flavor, like a fresh-brewed cup of Starbucks® coffee. Starbucks VIA® is made with a proprietary, U.S. patent-pending technology, to enable high-quality coffee on-the-go in a simple and delicious experience.
Portioned into single-serve packets, Starbucks VIA® Ready Brew is sold in packs of three or twelve and is available in two flavors – bold, nutty Colombia and smooth, rich Italian Roast. The suggested retail price for Singapore will be S$3.90 for three and S$13.90 for twelve, making a great cup of Starbucks coffee for less than S$1.00.