Starbucks is investing $130 million to construct its first coffee roasting facility in China, an indication business is beginning to pick up following the outbreak of the COVI-19 coronavirus pandemic there, according to a Bloomberg News report. Starbucks will build an industrial park for coffee roasting, smart warehousing and logistics close to Shanghai in Kunshan, eastern Jiangsu Province, the Seattle-based company said. LM: No, every new Roastery will respect the local culture and never be repeated. Starbucks press photo by Joshua Trujillo. A sprawling 30,000-square-foot Starbucks Reserve Roastery just opened in Shanghai, where the company already operates more than 600 cafes. Credit: Ocean Grounds Coffee Why Is Consumption Increasing? Coffee can be bold and loud, but this shape is beautiful and feminine like tea. Also planned to open in 2022, the facility is expected to include a roasting plant, warehouses and a distribution center. "When people open … Just two days ago, Starbucks announced a strategic partnership with Sequoia Capital China to help fund the company’s continued growth there. As Starbucks largest manufacturing investment outside of the U.S. and its first in Asia, the CIP will create highly-skilled jobs and new career opportunities that will further drive smart and sustainable coffee manufacturing in China. This would also be the coffee maker's first manufacturing plant in Asia. The coffee club's ergonomic walnut lounge chairs have copper arms wrapped in hand-stitched leather. Starbucks currently has more than 3,000 stores in China, with 600 in Shanghai alone. Starbucks will invest approximately US$130 million in China to open a state-of-the-art roasting facility in 2022 as part of its new Coffee Innovation Park (CIP). Starbucks will invest 900 million yuan ($130 million) to build the first phase of a coffee complex in the Chinese city of Kunshan, near the commercial hub of Shanghai… It was an opportunity for local craftsmen to be part of the journey. The coffee chain company expects the Kunshan Roastery, near Shanghai, to be completed by 2022. Claim: Starbucks is opening a coffee bean roasting facility in China. The Shanghai Roastery includes a Teavana bar and features an on-site bakery. The facility will serve as a key node in Starbucks global roasting network, further deepening Starbucks commitment to elevate specialty coffee in the Chinese market. “The Roastery is a theater to elevate the coffee experience, where the average person spends 40 minutes because they don’t want to leave.”. To revisit this article, select My⁠ ⁠Account, then View saved stories. Starbucks to invest $130 million for roasting plant in China's Kunshan Starbucks will invest 900 million yuan ($130 million) to build the first phase of a coffee complex in the Chinese city of Kunshan, near the commercial hub of Shanghai, with completion targeted for 2022, it said on Friday. The facility is Starbucks' largest manufacturing investment outside of the United States and its first in Asia. Starbucks has six roasting plants worldwide. © 2020 Benzinga.com. You Too Can Hit The Pasture Pool With Famous Athletes In This Ch... Privacy Policy / Do Not Sell My Personal Data. And, most personal for Schultz, Starbucks has announced plans to open a flagship in Milan, where he discovered premium coffee culture for himself on a visit in 1983. Starbucks will invest 900 million yuan ($130 million) to build the first phase of a coffee complex in the Chinese city of Kunshan, near the commercial hub of Shanghai, with … STARBUCKS ROASTING COFFEE IN CHINA IN NEW AGREEMENT. Through the partnership with Sequoia Capital China, Starbucks will explore opportunities to embed digital technologies across all dimensions of its retail business to harness the power of data-driven analytics, modelling and decision making. Softly rounded edges and Star R branding distinguish the furniture collaboration between Starbucks senior vice president Liz Muller and independent Danish designers OEO Studio. To flesh out the Shanghai concept, which includes a bakery and Teavana bar, he turned to Liz Muller. Starbucks will invest approximately US$130 million in China to open a state-of-the-art roasting facility in 2022 as part of its new Coffee Innovation Park (CIP). Starbucks to invest $130 million for roasting plant in China's Kunshan 13/03/2020. Starbucks has announced plans to invest $130 million for a production facility in China called the Coffee Innovation Park.. Shanghai, China – April 21, 2020— Today, Starbucks joined forces in China with plant-based innovators, Beyond Meat, Inc. and Oatly, to launch a new ‘Starbucks GOOD GOOD’ movement in its stores, inspiring Chinese customers to explore new lifestyles that are good for the planet. Located in the city of Kunshan, an hour from Shanghai, it will source coffees from China and around the world directly from origin for processing, roasting, packaging and distribution, for the first time in China. Benzinga does not provide investment advice. 12:42 PM. Starbucks has announced it will invest $130m to open a state-of-the-art roasting facility in China. Starbucks Corporation (NASDAQ: SBUX) on Friday announced it will invest $130 million in its new China roastery.. What Happened. By creating an account, you agree to theTerms of Service and acknowledge our Privacy Policy. LM: _ The 52-foot Teavana bar represents the first time we are bringing tea into a roastery. It would be Starbucks’ first large-scale production roastery in what is now the company’s second largest retail market, China, where the company plans to have 6,000 stores by 2022. In the period, Starbucks opened 480 stores worldwide, 259 of which were in China. Starbucks (NASDAQ:SBUX) plans to open its largest-ever coffee roasting facility in 2022. Starbucks to invest $130 million for roasting plant in China's Kunshan ... People having a break outside and inside the Starbucks Coffee located in Shanghai Yuyuan Old Street. Starbucks to invest $130 million for roasting plant in China's Kunshan Starbucks will invest 900 million yuan ($130 million) to build the first phase of a coffee complex in the Chinese city of Kunshan, near the commercial hub of Shanghai, with completion targeted for 2022, it said on Friday. But the large “kettle” will be an icon in each one we build. It would be Starbucks’ first large-scale production roastery in what is now the company’s second largest retail market, China, where the company plans to have 6,000 stores by 2022. Starbucks is opening one store in China every 15 hours, the company's China CEO, Belinda Wong, told "Squawk Box.". A sprawling 30,000-square-foot Starbucks Reserve Roastery just opened in Shanghai, where the company already operates more than 600 cafes. [Photo provided to chinadaily.com.cn] Starbucks completes the full-service coverage of “Starbucks Delivers” in Beijing and Shanghai, a month following the introduction of the market-leading coffee delivery experience in China. "The investment highlights [Starbucks'] ambition to further globalize its roasting network and reinforces [its] strategic focus on the U.S. and China as its two lead growth markets," the company said in a statement. China’s Relationship With Coffee. The complex will encompass 80,000 square feet of space and include high-tech warehouses and a coffee roasting facility, reports indicate.The pandemic, originating in China, forced about 80% of Starbucks’ 4,300 stores to close in early February. Starbucks kicked off construction for its China Coffee Innovation Park on Nov 16, 2020 in Kunshan, East China’s Jiangsu province. AD PRO: Still, it seems like you sought a Starbucks vibe? Five are in the US; the other is in the Netherlands. The new CIP, wholly-owned and operated by Starbucks, will source coffees from China and around the world directly from origin for processing, roasting, packaging and distribution, for the first time in China. What should visitors expect? Located in the city of Kunshan, an hour from Shanghai, the park will source coffees from China and around the world directly from origin for processing, roasting, packaging and distribution, for the first time in the market. You’ll never see purple because there’s nothing purple in our palette that we get inspiration from. BEIJING (Reuters) - Starbucks will invest 900 million yuan ($130 million) to build the first phase of a coffee complex in the Chinese city of Kunshan, near the commercial hub of Shanghai, with completion targeted for 2022, it said on Friday.It is Starbucks’ largest investment in a production facility outside the United States and the Guatemalan coffee ready to be sampled at Ocean Grounds Coffee in Shanghai. © 2020 Condé Nast. Shanghai – April 27, 2020 – Today, Starbucks announced a strategic partnership with leading investment firm, Sequoia Capital China to tap into China’s growing technology landsca... Starbucks Inspires ‘GOOD GOOD’ Lifestyles Towards a Better Planet - Partners with Beyond Meat, Inc. to launch plant-based … (Joshua Trujillo, Starbucks). Workers process coffee in the shadow of an enormous 40-ton kettle clad in carved copper panels, where beans rest after roasting. Use of this site constitutes acceptance of our User Agreement (updated as of 1/1/21) and Privacy Policy and Cookie Statement (updated as of 1/1/21) and Your California Privacy Rights. AD PRO: Is the goal to develop a prototype? A daily collection of all things fintech, interesting developments and market updates. Shares traded 7% higher at time of publication Friday morning. To revisit this article, visit My Profile, then View saved stories. Starbucks Corporation (NASDAQ: SBUX) on Friday announced it will invest $130 million in its new China roastery.. What Happened. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Condé Nast. The ceiling of the new Starbucks Reserve Roastery in Shanghai features a raceway of copper pneumatic tubes that deliver roasted and rested beans to leather baskets at the coffee bars ready for baristas to scoop and grind. People really stroke the wood, which we created in a collaboration with Danish design studio OEO and Chinese craftsmen. It would be Starbucks’ first large-scale production roastery in what is now the company’s second largest retail market, China, where the company plans to have 6,000 stores by 2022. As the coffee giant's senior vice president of creative global design, she is currently at work conceiving similarly attention-grabbing locations: in Chicago’s iconic Crate and Barrel building; in a new freestanding Tokyo building by cult architect Kengo Kuma; on a prime New York site across from Chelsea Market. Starbucks executive chair Howard Schultz well deserves his reputation for big thinking, and it doesn’t get bigger than building the most enormous Starbucks to date. Posted-In: China Kunshan RoasteryNews Restaurants Global General, Thank you for subscribing! The virus outbreak brought most of … In 2017, Starbucks opened its flagship “Reserve Roastery” in Shanghai (see further reading) (Starbucks) The scheme, which was announced back in March as a $130m investment, will be Starbucks’ second production facility outside the US – the only other is in the Netherlands to supply the European market. Starbucks Opens State-of-the-Art Premium Reserve Roastery in Shanghai The 30,000-square-foot Starbucks Roastery, the first of its kind in Asia, introduces visitors to a fully immersive coffee wonderland. There’s nothing fake, because coffee is real. March 15, 2020. Howard Schultz, executive chairman of Starbucks, shown at the new Starbucks Reserve Roastery in Shanghai. Prince Harry and Duchess Meghan set for Spotify deal. Just two days ago, Starbucks announced a strategic partnership with Sequoia Capital China to help fund the company’s continued growth there. Starbucks will invest 900 million yuan ($130 million) to build the first phase of a coffee complex in the Chinese city of Kunshan, near the commercial hub of Shanghai, with completion targeted for 2022, it said on Friday. The project, which will be located in China, will cost approximately $130 million. The ceiling canopy’s 10,500 hexagonal tiles are aluminum sheeting veneered with wood by hand. It is Starbucks' largest investment in a production facility outside the United The Kunshan plant will become its biggest outside the US, with an annual capacity of more than 60,000 tons. The copper has a beautiful, authentic glow like the flame of the roaster. Starbucks noted it's the largest investment the company has ever made in a production facility outside of the United States. STARBUCKS ROASTING COFFEE IN CHINA IN NEW AGREEMENT. Construction of the CIP will begin later this year in the city of Kunshan, an hour from Shanghai. Xiamen-based Luckin operated more outlets in China than Starbucks at the end of 2019, and has continued to expand aggressively, even as both companies reel from the impact of the novel coronavirus (COVID-19) outbreak in the country. It is Starbucks' largest investment in a production facility outside the United The woods are warm and walnut, and lighting is the white of the milk froth. Liz Muller: This is the top end of our luxury experience, an innovation lab for elements that can trickle down to the rest of our brand. Starbucks to invest US$130 million for roasting plant in China's Kunshan. Starbucks has also recently announced a $130 million investment in a new China roasting plant. AD PRO: Did you take any big design risks here? Starbucks will invest 900 million yuan ($130 million) to build the first phase of a coffee complex in the Chinese city of Kunshan, near the commercial hub of Shanghai… People want places where they can get inspired and get comfortable. We sandblasted the plastic to look soft, like a Chinese clay teapot, and chose the translucent green color for the same reason. There are also long chaise lounges, benches, and coffee tables—all branded Star R. We don’t sell them yet, but I think we should! Currently, Starbucks operates six other roasting plants… A lever at the bottom of the silo drops the beans into a handcrafted leather basket, where we scoop them out to put into the grinder. And it weighs 40 tons. Starbucks has announced plans to invest $130 million for a production facility in China called the Coffee Innovation Park. Starbucks executive chair Howard Schultz and SVP Creative, Global Design, and Innovation Liz Muller in the new Starbucks Roastery in Shanghai on Sunday, December 3, 2017. If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com. Create one. Starbucks has announced plans to invest $130 million for a production facility in China called the Coffee Innovation Park.. The coffee chain has over 4,700 stores in nearly 190 cities in the Chinese mainland and set a new quarterly store-opening record in the three months ended Sept. 30. Starbucks has six roasting plants worldwide: five in the US and one in the Netherlands. Get pre-market outlook, mid-day update and after-market roundup emails in your inbox. China is a key market for the Seattle-based coffee chain, where it faces intense competition from local companies including Luckin Coffee (NASDAQ: LK). China has become Starbucks' … AD PRO caught up with Muller in China, as she prepared for the December 6 opening. Starbucks will invest 900 million yuan ($130 million) to build the first phase of a coffee complex in the Chinese city of Kunshan, near the commercial hub of Shanghai, with … Starbucks is investing approximately $130 million in China to open a roasting facility in 2022, as part of its new Coffee Innovation Park (CIP). All rights reserved. SHANGHAI, People’s Republic of China — Starbucks is joining forces with plant-based innovators in China, Beyond Meat and Oatly, to continue its strategic focus on expanding plant … A sprawling 30,000-square-foot Starbucks Reserve Roastery just opened in Shanghai, where the company already operates more than 600 cafes. Starbucks has six roasting plants worldwide. its recycled plastic took a robot a week and a half to digitally print. Basically, it’s a roasting plant with a coffee club attached to it. The country produced an estimated 2.8 million tons of tea in 2018, and currently accounts for almost 40% of the world’s total tea consumption. US coffee house Starbucks has begun work this week on a $170m first phase of its “Coffee Innovation Park” in the Chinese city of Kunshan, in the western outskirts of Shanghai. Starbucks Builds Roasting Plant in China. Scheduled for completion 2022, the facility in Kunshan, an hour from Shanghai, will form part of US coffee giant’s Coffee Innovation Park (CIP) development – a vast roasting plant, warehouse and distribution complex representing Starbucks’ largest manufacturing investment outside the US. Starbucks (NASDAQ:SBUX) plans to open its largest-ever coffee roasting facility in 2022. Everything you need to know about the market - quick & easy. Each location will be a rich and upscale stage—we even had a couple get married in the first one, which opened in 2014, in Seattle. We go from the green of the fresh beans to the deep dark brown of roasted coffee. Starbucks' only other roasting facility outside of the U.S. is located in Amsterdam, and serves the European Union market. Don't have a Benzinga account? Claim: Starbucks is opening a coffee bean roasting facility in China. Starbucks (NASDAQ:SBUX) says it's on the road to recovery in China after the coronavirus outbreak led to a 50% drop in same-store sales in the second quarter of fiscal 2020. The beans rest in the kettle center stage, to lock in flavor and de-gas, before they’re shot out through copper pipes overhead that connect to silos above the bars. All rights reserved. Starbucks has six roasting plants worldwide: five in the US and one in the Netherlands. Here, we covered the kettle in handmade copper panels carved with 60 or 70 different Chinese characters for words like “French press” and “Arabica” as a conversation starter. Fresh tea leaves are harvested and collected in a basket. The new roasting facility, announced in March and expected to be completed by 2022, will cover coffee bean imports and exports, roasting, packaging, storage, logistics, distribution and training for coffee roasting. Starbucks has also recently announced a $130 million investment in a new China roasting plant. Starbucks Corporation (NASDAQ: SBUX) on Friday announced it will invest $130 million in its new China roastery. It opens to the public on Dec. 6. A large wall display of illustrated coffee cards, each with a small-batch roasting recipe on the back, makes an Instagram-ready selfie backdrop near one entrance. Executive chairman of Starbucks, Howard Schultz, at the new Starbucks Reserve Roastery in Shanghai. The carved wooden stool receives you and makes you feel comfortable. It signed a deal with the Kunshan Economic and Technological Development Zone today. Katy, Orlando want to raise daughter in the UK. The site will cover a total of 80,000 square meters. LM: All the furniture is uniquely designed, and we call it our New Eames line. Architectural Digest may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. AD PRO: This is the second outing for the Starbucks Reserve Roastery concept. Starbucks is planning to invest $130 million to start a coffee complex, known as the Coffee Innovation Park (CIP), in Kunshan, just outside of Shanghai. 1 2 Next >>| China will become a key link in its global network after the park's new roastery is up and running. Our website, archdigest.com, offers constant original coverage of the interior design and architecture worlds, new shops and products, travel destinations, art and cultural events, celebrity style, and high-end real estate as well as access to print features and images from the AD archives. Starbucks is investing approximately $130 million in China to open a roasting facility in 2022, as part of its new Coffee Innovation Park (CIP). The project is reported to be Starbucks’ largest production facility investment outside the United States and the first-ever in Asia. The wave shape was inspired by our “roasting curves,” which is our name for the recipes we use for roasting small-batch coffee. Starbucks will invest 900 million yuan ($130 million) to build the first phase of a coffee complex in the Chinese city of Kunshan, near the commercial hub of Shanghai, with completion targeted for 2022, it said on Friday. Starbucks is preparing to open at least 500 new stores in China this fiscal year -- that's more than 80% of its original plan. "When people open the doors, their eyes will light up like it’s Christmas,” Schultz told AD PRO. LM: Our design always goes back to the product. AD PRO: The café furniture looks especially inviting—. Starbucks stock closed 9.08% lower at $62.10 per share on Thursday. The plant is part of Starbucks new coffee innovation park slated to open in 2022 in the city of Kunshan, an hour from Shanghai, it said in a statement. Luckin Coffee Agrees To Settle Accounting Fraud Charges With SEC For $180M, Why McDonald's Stock Hasn't Soared During The Pandemic, 10 Consumer Discretionary Stocks With Unusual Options Alerts In Today's Session, How Fundamental Income Provides Investors Income Through The Net Lease Sector, Barron's Picks And Pans Of The Week: Time Is Ripe To Sell NIO, XPeng, Li; And Lessons From The IPO Frenzy, Benzinga's Bulls And Bears Of The Week: Boeing, Netflix, Nike, Starbucks And More. It plans to triple its revenue and double its operating profit in China between 2017 and 2022. The project, which will be located in China, will cost approximately $130 million. China has produced and consumed tea for centuries. Up until the 1980s, coffee was treated like an expensive gift, rather than something to be enjoyed. Ad Choices, How Starbucks Is Using Design to Sell Coffee, As Starbucks opens its largest location ever—in Shanghai—AD PRO catches up with the woman behind the brand's iconic look. 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