Starbucks to enter Cambodia
Starbucks is to enter Cambodia, its 16th market in the China/Asia Pacific region.
It will partner with the same company it has successfully entered Hong Kong, Vietnam and Macau with – Hong Kong based Maxim’s Group, a 50 per cent owned subsidiary of Dairy Farm International.
The two companies have signed a 15 year agreement for Cambodia rights and the first cafe will open in Phnom Penh’s international airport later this year. A second cafe will subsequently open in the capital city’s downtown in early 2016.
Starbucks is a latecomer to the Cambodian coffee market with UK rival Costas and Thai chain True Coffee (part of the CP Group) already established in the city.
“Cambodia is a vibrant country with a rich cultural heritage, and we are proud to bring the Starbucks experience to this market,” said John Culver, group president, China/Asia Pacific, channel development and emerging brands with Starbucks.
“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 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 MD of Maxim’s Group.
Starbucks and Maxim’s operate more than 150 stores in Hong Kong and Macau and 15 in Vietnam.