Starbucks to open 12,000 stores worldwide by 2021

Posted at 1:16 AM, Dec 08, 2016
and last updated 2016-12-08 01:16:24-05

NEW YORK — Coffee lovers, rejoice: Starbucks announced Wednesday a plan to open thousands more stores across the globe by the year 2021.

The immensely popular coffee chain plans to open approximately 12,000 new stores worldwide over the coming four years, which will bring the chain’s total number of locations to 37,000, according to a news release.

Plans for this massive expansion come after a record quarter and a year of growth and positive profits.

“Industry-leading innovation is driving our core business and creating further separation from competitors all around the world,” said Howard Schultz, chairman and chief executive officer in a news release. “Our Roasteries and Starbucks Reserve stores will further transform – and elevate – the Starbucks Experience we deliver to our customers, and are laying the foundation for our next wave of profitable, global growth.”

Starbucks is also planning on opening an additional 1,000 or so Starbucks Reserve Roastery locations due to the success of its first Seattle store, opened two years ago, according to a news release.

A Roastery location is slated to open in New York City in 2018.

Reserve Roastery locations offer a “high-end” experience for coffee drinkers, complete with unique merchandise and a chance to view how coffee beans from around the world are roasted and packaged for caffeine fiends around the world.

New Roastery locations will also begin to serve Italian food through the company’s partnership with Italian food partner Princi, according to a news release. Standalone Princi locations will be opened in Seattle, New York and Chicago as well starting in late 2017.

Last week, it was announced that Schultz would leave his position to become the company’s executive chairman. Kevin Johnson, currently president and COO, will become CEO in April 2017.