Starbucks aims to double its China store count by 2022

Loaded With Nestle Cash, Starbucks Intends To Triple China Revenue

"No Western company or brand is better positioned to evolve with the rapidly expanding Chinese middle class - and we continue to mindfully evolve a coffee culture in China where the reward will be healthy, long-term, profitable growth for decades to come", Johnson said.

A doubling of stores would bring the company's total in 6,000 in the country.

Starbucks Corp is looking to more than triple its revenue and nearly double its store count in China over the next five years, doubling down on the market as traffic growth comes under pressure in the United States.

Starbucks also said it expects to more than double its operating income in China over the next 5 years, relative to 2017. In China, the current outlets are 3,300, with a comparison to the USA which has about 12,000 outlets, including the licensed stores. An American Seattle coffee chain Starbucks recently announced to build new 3,000 coffee stores in China over the upcoming years, however, the company anticipating the double numbers of coffee shops in the world's second-largest economy before the end of 2022.

It made $3.24 billion in China/Asia Pacific revenue in the past financial year while operating income was $764.8 million, according to calculations by Reuters.

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Starbucks is shaping up an aspiring plan to compete in the race with KFC to become the quickest-growing foreign food chain with the unfolding of 600 new stores every year thus tripling the revenue by 2022.

That's not the first time Starbucks has ramped up its China plans. Customers these days prefer shopping while sitting at home.

Currently, 60 percent of transactions in its China stores are through mobile payments.

The growth is helping the coffee chain create 10,000 jobs per year in China, where the company is keen to set itself apart by offering generous employee benefits, including health insurance for the parents of employees in a country where children often care for aging family members.

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