The US coffee giant will expand partnerships with existing Latin American franchisees Delonorte S.A. and Premium Restaurants of America to enter its 87th and 88th markets globally
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Starbucks will open its fist store in Ecuador in Quito in July 2024 | Photo credit: Starbucks
Starbucks will open its first stores in Ecuador and Honduras this year as it continues to bolster its presence in Latin America.
The Seattle-based coffee chain will launch in Ecuador in July 2024 with existing licensee Delonorte S.A., which operates the brand in Peru and Bolivia. The first outlet of the expanded partnership will open at the Scala shopping centre in Ecuador’s capital city Quito.
Starbucks will also enter Honduras before the end of the year in partnership with franchisee Premium Restaurants of America, which operates the coffee chain in El Salvador, Guatemala and Costa Rica.
In a press release, Starbucks said Delonorte S.A. and Premium Restaurants of America have ‘extensive local market knowledge’ and a strong track record of operating and scaling Starbucks across multiple markets.
Starbucks currently operates more than 38,000 outlets across 86 markets, including more than 1,600 stores across 24 Latin American countries, and is seeking to reach 55,000 stores globally by 2030.
“Latin America has been integral to Starbucks business since our founding in 1971. Over half of the coffee Starbucks sources worldwide each year comes from the region, and we are proud to continue bringing the Starbucks Experience to more people, in more places, in celebration of the region’s rich coffee heritage,” said Brady Brewer, CEO, Starbucks International.
Franchise restaurant group Delonorte S.A. currently operates 117 Starbucks stores in Peru and seven in Bolivia via its Delosi S.A. subsidiary. Premium Restaurants of America operates 26 Starbucks outlets in Costa Rica, 23 in El Salvador and 20 stores in Guatemala.