Starbucks Extends Licensing Agreement with Long-Term Partner, Maxim’s Caterers Limited, to Accelerate Growth in Singapore
September 28 2017 - 4:18PM
Business Wire
Starbucks Coffee Company (NASDAQ:SBUX) announced it has entered
into an agreement with its long-time strategic partner Maxim’s
Caterers Limited – a leading restaurant operator of multiple brands
across Asia – to fully license Starbucks operations in Singapore.
Under the agreement, Maxim’s Caterers Limited will have the
exclusive rights to operate and develop Starbucks stores in
Singapore. The move further accelerates Starbucks operations in
this important market and aligns with Starbucks growth agenda.
“We’re pleased to take another step in our ongoing growth
aspirations in Asia by transitioning the Singapore business to
Maxim’s Caterers Limited, our trusted business partner with a
successful track record in delivering the unique Starbucks
Experience and developing our iconic brand,” said John Culver,
group president, Starbucks International and Channel Development.
“Starbucks remains committed to growing in Singapore, an important
market where we will build on 20 years of proudly serving
customers.”
Starbucks entered Singapore in 1996 with the opening of its
first store at Liat Towers, centrally located along the renowned
Orchard Road shopping belt. Since then, Starbucks has built the
brand by delivering a consistent, authentic in-store experience to
more than 130 Starbucks stores today in Singapore.
“Our partnership with Starbucks is 17 years strong and we are
proud to deliver the Starbucks Experience to our customers in Hong
Kong, Macau, Vietnam and Cambodia today,” says Michael Wu, chairman
and managing director of Maxim’s Caterers Limited. “We look forward
to leveraging our expertise and deep understanding of the Starbucks
brand to welcome Singaporean customers into the stores and earn
their trust and respect through the unparalleled service, craft and
passion known by customers around the globe.”
The partnership between Starbucks and Maxim’s Caterers Limited
started in 2000 in Hong Kong. Currently, there are more than 210
Starbucks stores in Cambodia, Hong Kong, Macau and Vietnam,
employing nearly 2,900 partners (employees) across the four key
markets.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to
ethically sourcing and roasting high-quality arabica coffee. Today,
with stores around the globe, the company is the premier roaster
and retailer of specialty coffee in the world. Through our
unwavering commitment to excellence and our guiding principles, we
bring the unique Starbucks Experience to life for every customer
through every cup. To share in the experience please visit us in
our stores, online at Starbucks.com and through the Starbucks
Newsroom.
About Maxim’s Caterers
Limited
Founded in 1956, Maxim’s Caterers Limited (a company
incorporated in Hong Kong) is a leading food and beverage company
comprised of Chinese, Asian and European restaurants, quick service
restaurants, bakery shops, coffee shops, Japanese chain restaurants
and institutional catering, while providing a range of festive
products, including the award-winning Hong Kong MX Mooncakes. It is
the licensee of various renowned brands including Starbucks Coffee,
Genki sushi, ippudo and Cheesecake Factory in different
territories. Altogether, it has over 1,000 outlets in Hong Kong,
Macau, Mainland China, Vietnam, Cambodia and Thailand. To learn
more about Maxim’s, visit www.maxims.com.hk/en.
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Starbucks Coffee CompanyMedia Relations,
206-318-7100press@starbucks.com
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