The quick-service hospitality group said half the investment will go towards expanding its 13 quick-service brands with a focus on new Starbucks stores in Mexico, where it currently operates 820 coffee shops
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Alsea currently operates 4,622 stores across its 13 foodservice brands, including 1,777 Starbucks outlets | Photo credit: Alsea
Mexican quick-service hospitality group Alsea will invest ₱6bn ($356m) in its portfolio of brands across the next 12 months to strengthen its position in the Latin American and European coffee shop and restaurant markets.
Alsea currently operates 4,622 stores across its 13 foodservice brands, which include licensed Starbucks, Domino’s Pizza and Burger King stores. The group expects to exceed 5,000 sites globally in 2024 and forecasts it will become a 7,000-store company by 2033.
Approximately half of the capital investment – a 27% rise on 2023 spending – will be set aside for opening new stores, with a focus on new Starbucks outlets. Approximately 25% will be spent on outlet maintenance, with the remainder split between store remodelling and digital development.
Of the total investment, 60% will be spent in Mexico, 25% in Europe and 15% in South America.
Alsea opened 116 net new Starbucks stores last year to reach 1,777 outlets across 12 markets. The group’s largest Starbucks market is Mexico, where it currently operates 820 stores, ahead of France, Spain and Chile, where it has 245, 166 and 162 sites respectively.
Starbucks is Alsea’s largest franchise brand, ahead of Domino’s Pizza and Burger King, with 1,441 stores and 425 sites respectively. Alsea achieved 10.7% year-on-year group sales growth in the 12 months ending 31 December 2023 to reach ₱74.6bn ($4.4bn).