The FINANCIAL — Starbucks Coffee Company on August 26 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, according to Starbucks.
“Cambodia is a vibrant country with a rich cultural heritage, and we are proud to bring the unparalleled Starbucks Experience to this market,” said John Culver, group president, China/Asia Pacific, Channel Development and Emerging Brands, Starbucks Coffee Company. “We look forward to becoming a part of Cambodia’s local coffee culture, embracing its traditions and sharing our deep passion and knowledge of the best coffees from around the world.”
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.