BEIJING and HONG KONG, Sept 20, 2005 /PRNewswire via COMTEX/ -- Starbucks Coffee has come to the Great Wall of China.
Beijing Mei Da Coffee Co., Ltd. ("Beijing Mei Da"), a portfolio company of H&Q Asia Pacific, has opened its newest Starbucks store in the Badaling section of the Great Wall in Beijing, bringing Starbucks' high quality coffee and legendary service to millions of domestic and foreign visitors a year. H&Q Asia Pacific through Beijing Mei Da brought the first Starbucks Coffee stores to China in 1999 and now operates 57 stores in Beijing and Tianjin.
"The introduction of the western-style coffee chain to the world's oldest and most populated tea-drinking country proved to be an outstanding success, with 48 stores in Beijing and nine stores in Tianjin today," said Charles Wang, acting president of Beijing Mei Da Coffee Co., Ltd., the exclusive licensed developer of Starbucks coffee stores in the Beijing and Tianjin markets. "Starbucks, under Beijing Mei Da's development and operation, has established itself as a lifestyle statement and symbol of economic progress for the region."
Dr. Ta-lin Hsu, founder and chairman of H&Q Asia Pacific and chairman of Beijing Mei Da Coffee Co., Ltd., said, "As a private equity firm, H&Q Asia Pacific has strong confidence in China's economic reforms, as well as the prospects of the country's economic development. We are proud of our role in introducing this great brand to China in January 1999 when we opened the first Starbucks store at Beijing's China World Trade Center. Branded consumer products is a major component of our investment strategy in Asian markets. The success of the Starbucks brand in China demonstrates the enormous vitality of the Chinese consumer marketplace and proves that strong consumer brands from the U.S. can be successfully transplanted into this market. We see great growth opportunities for Starbucks-Beijing in the future, and we look forward to working with Starbucks as a partner to realize that growth."
About Beijing Mei Da Coffee Co., Ltd
Founded in 1995, Beijing Mei Da Coffee Co., Ltd. is the exclusive licensed developer of Starbucks Coffee International in the Beijing and Tianjin markets. On January 11, 1999, Mei Da opened the first Starbucks Coffee store in China, located at Beijing's China World Trade Center. This marked the first time Starbucks world-famous coffee beverages, merchandise and freshly-made food items were made available to customers on the mainland. Confident of rapid-growth opportunities in China, Beijing Mei Da has plans to open additional stores to meet customer demand.
About H&Q Asia Pacific
H&Q Asia Pacific is a premier private equity firm that invests throughout the Asia Pacific region. Founded in 1985 by Dr. Ta-lin Hsu as a joint venture with Hambrecht & Quist Group, H&QAP is today an independent private equity firm that has managed total assets of $1.8 billion through offices in the Silicon Valley, Hong Kong, Seoul, Shanghai, Singapore, Taipei and Tokyo. H&QAP invests in a variety of sectors, including technology, manufacturing, branded consumer products, financial services, media and real estate. For additional information, visit www.hqap.com.
SOURCE H&Q Asia Pacific
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