News

Starbucks heads into Argentina

November 18, 2007

SEATTLE & BUENOS AIRES, Argentina — Starbucks Coffee Co. has signed a joint-venture agreement with Alsea S.A. de C.V. to form Café Sirena S.R.L.

Café Sirena S.R.L. will operate Starbucks retail locations throughout Argentina, with the first store scheduled to open in Buenos Aires in the second half of fiscal 2008.

In addition to opening and operating stores in Argentina, Alsea also is partnering with Starbucks in Chile to further develop the brand in the country. With the agreement, Starbucks and Alsea are looking to replicate in these countries the successful development of the Starbucks brand in Mexico, where through the first joint venture in the region, Café Sirena S. de R.L. de C.V., over 150 stores in five years have been opened.