Its newly-opened 5,000th store is located in Gwanyang-si, South Korea.
Starbucks is planning to expand further in Asia Pacific by opening 400 stores this 2023 after it opened its 5,000th store in the region in South Korea.
In a statement, Starbucks said it aims to build on its over 300-store portfolio across 40 cities in India and enter the market of at least five new cities.
In Southeast Asia, the company plans to build more stores outside the metropolitan areas of Indonesia, Thailand, Malaysia, and the Philippines. It opened its first store in Laos in November in the capital city, Vientiane, and plans to open another this year.
The company’s 5,000th store in the region opened in Gwanyang-si, South Korea which is located on a major road that connects the residential areas with business districts and features a drive-thru service.
“Asia Pacific is a dynamic and diverse engine of growth for Starbucks globally. As recovery continues, the region achieved over 20% sales growth year on year, demonstrating the strength and relevance of the brand,” said Michael Conway, group president, International and Channel Development for Starbucks.
“We are well positioned for further growth with our licensed business partners, who continue to elevate the Starbucks Experience across a range of innovative store formats,” he added.