Starbucks Thailand has revealed plans for a new expansion strategy, which involves the opening of an additional 30 coffee shops in Thailand every year until 2024, for a total of 90.
Starbucks Thailand highlighted that the decision to expand follows a period of higher sales registered during the first half of 2022. The company also specified that it will focus on expanding its digital platform channels, adding more drive-through locations, and developing new beverages.
In an interview with Bangkok Post, the Managing Director of Starbucks Thailand highlighted that the brand’s well-known profile in Thailand creates an opportunity to expand the network. Importantly, Thailand is not only a leading regional tourist destination but also possesses a strong coffee-drinking culture.
Starbucks started its Thai activities back in 1998 and was then acquired by the joint venture between Dairy Farm subsidiary Maxim’s and Singapore-headquartered Fraser & Neave in 2019 in a deal worth USD 500 million. In 2021, Starbucks opened its largest store in the region, Starbucks Reserve Chao Phraya Riverfront, at IconSiam in Bangkok.
The company plans to strengthen its digital presence in order to enhance the customer experience in Southeast Asia’s leading markets, namely the Philippines, Thailand, Singapore, Malaysia, Indonesia, and Vietnam.
(Sources: Inside Retail Asia; Pattaya Mail)