Starbucks and SSP Announce Milestone Licensing Agreement to Open Stores in European Travel Markets
Stores will open in more than 150 key airport and railway station locations in Europe
Starbucks Coffee Company (Nasdaq: SBUX) and SSP, a leader in beverage and food concessions for travelers in Europe, today announced a strategic licensing partnership to open more than 150 Starbucks stores in prime travel channels in key European markets within the next three years.
The agreement details wide-ranging co-operation across the European travel market, covering both airport and railway station locations. Starbucks will give SSP licensing rights to the Starbucks brand in a number of significant markets that in some segments are exclusive, including France, Germany and the United Kingdom.
“This collaboration aligns with our strategy to accelerate growth in our international business,” said Howard Schultz, chairman, president and ceo of Starbucks. “It provides us with a strong platform to further expand the Starbucks brand across Europe. SSP’s experience and leadership position gives us great confidence that together we can deliver the unique Starbucks Experience to more travelers in Europe.”
“SSP and Starbucks have a shared passion for delivering the very best quality beverage and food offerings for consumers worldwide,” said Andrew Lynch, chief executive officer, SSP. “We are excited about the opportunity to deliver the Starbucks Experience to traveling consumers in these key European markets. SSP has been operating in travel locations in Europe for over 60 years; this experience and our insights into travelling consumers’ needs and behavior, coupled with Starbucks unrivaled stature as the world’s leading coffee brand is a formidable pairing.”
This agreement further supports Starbucks intent to increase its international store growth with licensed partners who have proven experience and demonstrated success.
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