The quick-service hospitality group, which licenses Starbucks stores across 11 markets, will invest $304m to support group expansion in 2023 with a focus on growing the Seattle-based coffee chain in Europe
Alsea plans to operate 2,350 Starbucks stores globally by 2028, averaging 140 net new outlets per year | Photo credit: Starbucks
Mexican quick-service hospitality group Alsea, which operates more than 1,650 licensed Starbucks stores across Latin America, South America and Europe, will invest ₱5.5bn ($304m) to expand and upgrade its global store portfolio this year.
As part of its annual ‘Alsea Day’ with investors, Alsea said 52% of the 2023 funding will focus on growth and store remodelling in Mexico, 28% in Europe and 20% in South America.
Following an initial focus on Mexico in 2023, the quick-service hospitality group will also invest in European outlet growth. Alsea plans to open approximately 690 new licensed Starbucks stores by 2028, 43% of which will be in European markets.
Alsea cited strong opportunities in France, where it said favourable market conditions could see it open more than 200 new Starbucks stores during the period. Alsea currently operates 218 stores across the country.
The quick-service hospitality group began operating licensed Starbucks stores in Spain, Portugal and Andorra in 2018, and expanded its Starbucks presence across France, the Netherlands, Belgium and Luxembourg the following year.
Alsea plans to operate 2,350 Starbucks stores globally by 2028, averaging 140 net new outlets per year.
Alsea, which opened its first licensed Starbucks store in Mexico in 2002, currently operates 783 Starbucks outlets in its native market. In September 2022, Alsea announced it would invest ₱$4.5bn ($225m) to open 200 new Starbucks stores across Mexico by 2026.
The quick-service hospitality group also recently expanded its Starbucks footprint across Argentina, Chile and Uruguay.
Alsea, which also operates 1,370 Domino’s Pizza stores and 410 Burger King outlets globally alongside licensed TGI Fridays, VIPS and chili’s restaurants, achieved 29% group sales growth in the 12 months to 31 December 2022 to reach ₱68.8bn ($3.8bn).
The group is seeking to open up to 290 stores in 2023 — nearly all of which will be Starbucks or Domino’s Pizza outlets — and has forecast annual group sales growth of 13%.