Starbucks’ global expansion plans: 15k new stores by 2030 | Triple shot reinvention
Starbucks announced its Triple Shot Reinvention plan which includes a massive increase in stores globally and boosting baristas hourly earnings.
Starbucks has been growing over the past five years adding 9,000 new stores with the vast majority of them outside the United States. But the coffee house chain isn’t planning on slowing down anytime soon. At the beginning of November the company announced its Triple Shot Reinvention plan which includes an aggressive further expansion from its current 38,000 stores. Additionally, the Seattle-based company plans to “reinvigorate the partner culture.”
Starbucks plans by 2030
Among the various measures announced to improve its operations and build its business Starbucks aims to reach 55,000 locations globally by 2030. The bulk of the growth will be international with the goal of “becoming truly global”.
“Three out of every four new stores over the near term is expected to be opened outside of the US,” according to Michael Conway, president of Starbucks’ international and channel development divisions.
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Currently there are over 20,000 international outlets of the brand but it plans to expand its worldwide footprint with an additional 15,000 outside the US by the end of 2030. That means there will be on average 8 new international outlets per day.
The company will infill cities where the coffee powerhouse has already established itself as well as entering more new countries.
Starbucks baristas to get higher earnings
In addition to increasing the number of locations around the world, Starbucks is also planning to double hourly income for baristas from 2020 levels by the end of the 2025 fiscal year. The company hasn’t yet provided full details on how this will be achieved simply saying that it will be a combination higher pay and increased hours.