Starbucks is opening one store in China every 15 hours, the company's China CEO, Belinda Wong, told "Squawk Box.". China has produced and consumed tea for centuries. The facility is Starbucks' largest manufacturing investment outside of the United States and its first in Asia. Construction of the CIP will begin later this year in the city of Kunshan, an hour from Shanghai. The carved wooden stool receives you and makes you feel comfortable. 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! 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. There’s nothing fake, because coffee is real. 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. Executive chairman of Starbucks, Howard Schultz, at the new Starbucks Reserve Roastery in Shanghai. Create one. Nick Brown | March 17, 2020 The Starbucks Reserve Roastery in Shanghai, which opened in 2017. Starbucks is investing approximately $130 million in China to open a roasting facility in 2022, as part of its new Coffee Innovation Park (CIP). Guatemalan coffee ready to be sampled at Ocean Grounds Coffee in Shanghai. 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. The virus outbreak brought most of … Starbucks Builds Roasting Plant in China. People really stroke the wood, which we created in a collaboration with Danish design studio OEO and Chinese craftsmen. 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. Claim: Starbucks is opening a coffee bean roasting facility in China. LM: Our design always goes back to the product. Starbucks has announced it will invest $130m to open a state-of-the-art roasting facility in China. The woods are warm and walnut, and lighting is the white of the milk froth. Starbucks to invest $130 million for roasting plant in China's Kunshan 13/03/2020. Just two days ago, Starbucks announced a strategic partnership with Sequoia Capital China to help fund the company’s continued growth there. Get pre-market outlook, mid-day update and after-market roundup emails in your inbox. 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. 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. "When people open … 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 … Starbucks kicked off construction for its China Coffee Innovation Park on Nov 16, 2020 in Kunshan, East China’s Jiangsu province. The Kunshan plant will become its biggest outside the US, with an annual capacity of more than 60,000 tons. 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 Katy, Orlando want to raise daughter in the UK. 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. Workers process coffee in the shadow of an enormous 40-ton kettle clad in carved copper panels, where beans rest after roasting. Starbucks has six roasting plants worldwide: five in the US and one in the Netherlands. A sprawling 30,000-square-foot Starbucks Reserve Roastery just opened in Shanghai, where the company already operates more than 600 cafes. LM: All the furniture is uniquely designed, and we call it our New Eames line. The ceiling canopy’s 10,500 hexagonal tiles are aluminum sheeting veneered with wood by hand. We sandblasted the plastic to look soft, like a Chinese clay teapot, and chose the translucent green color for the same reason. 12:42 PM. 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. 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 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 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 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. 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. "When people open the doors, their eyes will light up like it’s Christmas,” Schultz told AD PRO. Benzinga does not provide investment advice. 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 … What should visitors expect? Coffee can be bold and loud, but this shape is beautiful and feminine like tea. 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. To flesh out the Shanghai concept, which includes a bakery and Teavana bar, he turned to Liz Muller. The coffee chain company expects the Kunshan Roastery, near Shanghai, to be completed by 2022. The project, which will be located in China, will cost approximately $130 million. 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. © 2020 Condé Nast. China will become a key link in its global network after the park's new roastery is up and running. 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. STARBUCKS ROASTING COFFEE IN CHINA IN NEW AGREEMENT. Architectural Digest may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. Credit: Ocean Grounds Coffee Why Is Consumption Increasing? 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. LM: _ The 52-foot Teavana bar represents the first time we are bringing tea into a roastery. March 15, 2020. The project is reported to be Starbucks’ largest production facility investment outside the United States and the first-ever in Asia. Starbucks has announced plans to invest $130 million for a production facility in China called the Coffee Innovation Park. Starbucks has six roasting plants worldwide: five in the US and one in the Netherlands. A sprawling 30,000-square-foot Starbucks Reserve Roastery just opened in Shanghai, where the company already operates more than 600 cafes. It opens to the public on Dec. 6. Prince Harry and Duchess Meghan set for Spotify deal. STARBUCKS ROASTING COFFEE IN CHINA IN NEW AGREEMENT. [Photo provided to chinadaily.com.cn] 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. Starbucks has announced plans to invest $130 million for a production facility in China called the Coffee Innovation Park.. AD PRO: This is the second outing for the Starbucks Reserve Roastery concept. Basically, it’s a roasting plant with a coffee club attached to it. AD PRO: The café furniture looks especially inviting—. The project, which will be located in China, will cost approximately $130 million. All rights reserved. Starbucks is preparing to open at least 500 new stores in China this fiscal year -- that's more than 80% of its original plan. 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. its recycled plastic took a robot a week and a half to digitally print. People want places where they can get inspired and get comfortable. It was an opportunity for local craftsmen to be part of the journey. AD PRO caught up with Muller in China, as she prepared for the December 6 opening. Starbucks noted it's the largest investment the company has ever made in a production facility outside of the United States. 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. 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. 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. 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 currently has more than 3,000 stores in China, with 600 in Shanghai alone. 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 is investing approximately $130 million in China to open a roasting facility in 2022, as part of its new Coffee Innovation Park (CIP). You’ll never see purple because there’s nothing purple in our palette that we get inspiration from. All rights reserved. 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. "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. 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 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 site will cover a total of 80,000 square meters. Starbucks Corporation (NASDAQ: SBUX) on Friday announced it will invest $130 million in its new China roastery.. What Happened. 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. It is Starbucks' largest investment in a production facility outside the United 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. Starbucks Corporation (NASDAQ: SBUX) on Friday announced it will invest $130 million in its new China roastery. 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 … 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. China has become Starbucks' … AD PRO: Still, it seems like you sought a Starbucks vibe? The coffee club's ergonomic walnut lounge chairs have copper arms wrapped in hand-stitched leather. Starbucks (NASDAQ:SBUX) plans to open its largest-ever coffee roasting facility in 2022. 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… Starbucks has six roasting plants worldwide. And it weighs 40 tons. The Shanghai Roastery includes a Teavana bar and features an on-site bakery. Five are in the US; the other is in the Netherlands. Fresh tea leaves are harvested and collected in a basket. Starbucks stock closed 9.08% lower at $62.10 per share on Thursday. 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… Starbucks has also recently announced a $130 million investment in a new China roasting plant. A daily collection of all things fintech, interesting developments and market updates. By creating an account, you agree to theTerms of Service and acknowledge our Privacy Policy. 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. Also planned to open in 2022, the facility is expected to include a roasting plant, warehouses and a distribution center. AD PRO: Is the goal to develop a prototype? Starbucks has announced plans to invest $130 million for a production facility in China called the Coffee Innovation Park.. 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. Shares traded 7% higher at time of publication Friday morning. 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. 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. Howard Schultz, executive chairman of Starbucks, shown at the new Starbucks Reserve Roastery in Shanghai. Everything you need to know about the market - quick & easy. “The Roastery is a theater to elevate the coffee experience, where the average person spends 40 minutes because they don’t want to leave.”. 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. Currently, Starbucks operates six other roasting plants… 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. Softly rounded edges and Star R branding distinguish the furniture collaboration between Starbucks senior vice president Liz Muller and independent Danish designers OEO Studio. 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 press photo by Joshua Trujillo. Starbucks has also recently announced a $130 million investment in a new China roasting plant. 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 to invest US$130 million for roasting plant in China's Kunshan. Posted-In: China Kunshan RoasteryNews Restaurants Global General, Thank you for subscribing! 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. Don't have a Benzinga account? To revisit this article, select My⁠ ⁠Account, then View saved stories. 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. 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. Starbucks (NASDAQ:SBUX) plans to open its largest-ever coffee roasting facility in 2022. 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. It signed a deal with the Kunshan Economic and Technological Development Zone today. 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 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. 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. Starbucks' only other roasting facility outside of the U.S. is located in Amsterdam, and serves the European Union market. China’s Relationship With Coffee. China is a key market for the Seattle-based coffee chain, where it faces intense competition from local companies including Luckin Coffee (NASDAQ: LK). LM: No, every new Roastery will respect the local culture and never be repeated. We go from the green of the fresh beans to the deep dark brown of roasted coffee. 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. Starbucks has six roasting plants worldwide. 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. AD PRO: Did you take any big design risks here? 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. Up until the 1980s, coffee was treated like an expensive gift, rather than something to be enjoyed. In the period, Starbucks opened 480 stores worldwide, 259 of which were in China. It plans to triple its revenue and double its operating profit in China between 2017 and 2022. (Joshua Trujillo, Starbucks). © 2020 Benzinga.com. The wave shape was inspired by our “roasting curves,” which is our name for the recipes we use for roasting small-batch coffee. The copper has a beautiful, authentic glow like the flame of the roaster. A sprawling 30,000-square-foot Starbucks Reserve Roastery just opened in Shanghai, where the company already operates more than 600 cafes. You Too Can Hit The Pasture Pool With Famous Athletes In This Ch... Privacy Policy / Do Not Sell My Personal Data. 1 2 Next >>| If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com. Just two days ago, Starbucks announced a strategic partnership with Sequoia Capital China to help fund the company’s continued growth there. It is Starbucks' largest investment in a production facility outside the United 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. This would also be the coffee maker's first manufacturing plant in Asia. Claim: Starbucks is opening a coffee bean roasting facility in China. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Condé Nast. People want places where they can get inspired and get comfortable get inspiration.! Pasture Pool with Famous Athletes in this Ch... Privacy Policy Schultz, executive chairman of Starbucks, Schultz... Were in China called the coffee Innovation Park on Nov 16, 2020 the Reserve. Kunshan plant will become its biggest outside the United States and independent Danish designers OEO Studio coffee Innovation Park Nov. 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