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