Starbucks likely to sell Japan business despite strong local popularity
AgenciesLike 7-Eleven and McDonald’s, Starbucks has become an originally American brand that many travelers will tell you does things a little differently, and better, in Japan. Kn...
Starbucks Corporation, the Seattle-based parent company of Starbucks Japan, is reportedly considering selling its majority stake in the Japanese coffeehouse chain, according to Reuters. Despite Starbucks Japan's strong local popularity, with approximately 1,883 branches as of September last year accounting for 9 percent of all Starbucks coffeehouses worldwide, the company's market value of around $3 billion/470 billion yen has doubled since Starbucks Corporation acquired it in 2014.
The chain's first location in Japan opened in Tokyo's Ginza neighborhood in 1996, marking the first Starbucks outside North America. However, the motivation behind the potential sale is reportedly not related to underperformance of Starbucks Japan, but rather part of a broader reassessment of Starbucks Corporation's global assets to focus more on the U.S. market.
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