Starbucks Announces the Opening Of its First Store in Poland
Company Expects to Capture an Increasing Share of the Rapidly Growing Coffeehouse Markets in Central and Eastern Europe
AMSTERDAM and WARSAW, Poland.– Starbucks Coffee International, Inc. a wholly-owned subsidiary of Starbucks Coffee Company (NASDAQ: SBUX), and American Restaurants Sp. z o.o.,
a wholly-owned subsidiary of AmRest Holdings N.V, (AmRest, WSE: EAT), through the joint-venture company, AmRest Coffee, Sp. z o. o. will celebrate the opening of the first Starbucks coffeehouse in Poland on Wednesday, April 8 in Warsaw at Nowy Swiat 62.
“It is with great pride that we welcome customers to our first store in Poland to discover our world of high-quality arabica coffees and the unique Starbucks Experience,” said Drew O’Malley, managing director – AmRest Coffee Sp. z o. o. “Starbucks waited a long time to find the right opportunity to enter Poland, a country that has enthusiastically embraced the coffeehouse culture. We are excited to become a part of this growing tradition and a part of the community,” continued O’Malley.
The coffeehouse segment is the fastest-growing of the dynamic culinary sector in Poland. According to horecanet.pl, a restaurant industry report, average annual revenue growth of the Polish coffeehouse market between 1997 and 2007 was estimated to be approximately 40 percent. Another report published by BROG Media Biznesu showed a 30 percent growth in the Polish coffeehouse segment in 2007 alone.
“Poland, as well as the rest of Central and Eastern Europe, represents significant growth areas for Starbucks,” said Buck Hendrix, president of Starbucks Europe, Middle East and Africa. “To leverage existing strategic business partnerships to accelerate our growth outside the U.S., it is essential that we enter Poland with a strong and trusted partner like AmRest, who understands the market and shares our values and passion for people, quality and service.”
In 2008, AmRest opened the first Starbucks store in the Czech Republic and operates nine locations in the country. AmRest is also Starbucks joint-venture partner for the Hungarian market. There are more than 1,550 Starbucks locations in 27 countries throughout Europe, Middle East and Africa, as of the end of Starbucks fiscal first quarter.
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