Kuwaiti Retailer Plans To Open 10 Starbucks Outlets In Russia

Times Of Oman:

Kuwaiti retailer, plans to open Starbucks Corp.’s first 10 Russian stores this year as the US coffee-shop chain starts expansion into an economy entering its ninth consecutive year of growth. “We’ll start opening the first stores in Moscow and St Petersburg in August, then review expansion plans every six months,� M.H. Alshaya Chief Executive Office Mohammed Alshaya said in an interview at the World Economic Forum in Davos. The Kuwaiti company is Mothercare Plc’s Russia franchisee. Starbucks plans to add 2,400 stores this year, the most ever, Chief Executive Officer Jim Donald said last month. The Seattle-based company aims to more than triple its stores to 40,000 worldwide as it expands in fast-growing markets like China, Brazil and India and tries to outpace Dunkin’ Donuts Inc. Russia presents “significant opportunities,� Starbucks Chairman Howard Schultz said in a interview.