News Brief
Starbucks Moves Into Bulgaria, Portugal
Dec 21, 2007, 5:00 AM
Starbucks will increase its presence in Europe by opening coffeehouses in Bulgaria and Portugal next year as part of its strategy to develop business clusters within Europe, the Middle East and Africa.
Starbucks Coffee EMEA recently extended its joint venture agreement with the Marinopoulos Group to open stores in Bulgaria; the first will open in the capital city of Sofia in 2008. It also broadened its agreement with Spanish joint venture partner Grupo VIPS to open stores in Portugal. The first store is expected to open in Lisbon sometime next year.
Starbucks' five-year partnership with Athens-based Marinopoulos Group now spans six markets, including Greece, Cyprus, Romania, Switzerland, Austria and the addition of Bulgaria. Likewise, its joint venture relationship of more than five years with Madrid-based Grupo VIPS covers three markets, including Spain, France and now Portugal.
--Nina M. Lentini
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