The company is now opening more than a store a day in China. The secret to success there, according to the coffee seller’s chairman? Mutual trust.
Read the full article from DealBook here.
"Starbucks is opening more than 500 stores a year there (China) — which amounts to more than one new store a day. Starbucks is creating some 10,000 jobs in China annually."
"In Shanghai alone, there are already 600 Starbucks. To put that in perspective, New York City has about half as many stores as Shanghai."
"The story of Starbucks in China is a nearly 20-year journey that may be a case study for American companies that have struggled to do business there."