In partnership with Delonorte and Premium Restaurants of America , the company will open stores in Quito, Ecuador and San Pedro Sula, Honduras, respectively.
Starbucks Coffee Company today announced plans to enter two new markets in the Latin American and Caribbean region by the end of this year: Ecuador and Honduras. This expansion is part of Starbucks' Triple Shot Reinvention with Two Pumps strategy last November, which lays out the roadmap for how the company will provide long-term sustainable growth. The strategy includes accelerating expansion to 55,000 stores globally by 2030.
In partnership with Delonorte and Premium Restaurants of America , the company will open stores in Quito, Ecuador and San Pedro Sula, Honduras, respectively. The openings in these markets will bring Starbucks operations to 26 markets in the Latin American and Caribbean region and 88 globally.
The company's presence in Latin America and the Caribbean has grown steadily, with more than 1,600 stores, providing employment opportunities to more than 22,000 green apron partners (employees).
"Latin America has been an integral part of Starbucks' business since our founding in 1971," said Brady Brewer, CEO of Starbucks International. "More than half of the coffee Starbucks buys around the world each year comes from the region, and we are proud to continue bringing the Starbucks Experience to more people, in more places, in celebration of the region's rich coffee heritage."
The first Starbucks store in Ecuador is scheduled to open in July 2024, while the debut in Honduras is expected later this year.
LOCAL PARTNERS FOR REGIONAL EXPANSION
Starbucks has established strong relationships with licensed operators responsible for managing the brand's new stores in Ecuador and Honduras. These operators, Delonorte in Ecuador and Premium Restaurants of America in Honduras, have been chosen for their extensive knowledge of the local market and their demonstrated ability to deliver the exceptional Starbucks Experience to customers.
Delosi, the parent company of Delonorte and long-time Starbucks business operator in the Andean region, has been a key partner since Starbucks opened its first store in Peru in 2003. Since then, this partnership has grown to 117 stores. in Peru and 7 in Bolivia, which demonstrates a strong commitment to regional expansion.
Similarly, Premium Restaurants of America began its partnership with Starbucks in 2010 with the opening of the company's first store in El Salvador and has since expanded into Guatemala and Costa Rica. Currently, the company operates 26 stores in Costa Rica, 23 in El Salvador and 20 in Guatemala.
THE PREVIOUS TIES BETWEEN STARBUCKS AND ITS NEW MARKETS
Starbucks has been sourcing high-quality Arabica coffee from Ecuador and Honduras for more than a decade, and will continue to elevate coffees from these markets to the global stage.
Starbucks Galapagos La Tortuga Starbucks Reserve and Ecuador Loja Starbucks Reserve from Ecuador; as well as Starbucks Single Origin Honduras Marcala and Honduras Honey Processed Los Naranjos de Honduras, show the regional commitment within Starbucks' diverse global coffee portfolio.
