Licensed Starbucks stores drive Alsea’s strong third quarter revenues

Alsea currently operates 1,612 Starbucks locations across 11 countries | Photo credit: Starbucks

Mexican restaurant operator Alsea has cited robust sales among its franchised Starbucks stores as a key contributor to its record third quarter revenues.  

Reporting on the period ended 30 September 2022, Alsea said total revenues grew 26% to reach ₱17.5bn ($888m). 
 

Alsea currently operates 1,612 Starbucks locations, 47% of which are in Mexico where the company launched its first Starbucks store in 2002.

Alongside 208, 150 and 23 Starbucks outlets in France, Spain and Portugal respectively, Alsea also operates the US coffee brand in Argentina, Chile, Colombia, Uruguay, Belgium, the Netherlands and Luxembourg. 

The company said Starbucks year-over-year revenue growth reached 43%, while the coffee chain’s same-store sales increased 37% in the quarter. 

Growth in the latter channel was most evident in Europe, where Alsea’s franchised Starbucks stores achieved sales growth of 66% in Portugal, and 39% in both France and Spain. Same-store sales growth for Starbucks outlets in Mexico increased 30%. 

In September 2022 Alsea announced that it would invest $225m to open 200 new Starbucks stores across Mexico over the next four years.  

“These results point to continued strong demand for our brands in a challenging macroeconomic environment, which truly speaks to our team members’ dedication, our high-quality products, and our innovative and resilient business model. Regarding our brands, Starbucks and Domino's Pizza continued to stand out in terms of consistent year-over-year revenue growth, increasing 43.3% and 16.5%, respectively,” said Armando Torrado, CEO, Alsea. 

Alsea plans to open the first Starbucks store in Paraguay in 2023.  

The Mexican restaurant group also operates over 1,300 Domino’s Pizza and 400 Burger King sites across Latin America and Europe.