Starbucks Picks Shanghai for First Upscale Cafe Outside U.S.
U.S. coffeehouse chain Starbucks Corp. will open a Starbucks Reserve Roastery in Shanghai, the first of the new concept cafes outside its home turf, reflecting the company’s confidence in its fastest growing market.
The multimillion-dollar project is the company’s biggest move in the China market since it secured sole ownership of its 3,000 stores in the country by buying out its joint venture in July.
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