Shulou(Shulou.com)11/24 Report--

CTOnews.com, November 13, CTOnews.com learned from the National Enterprise Credit Information publicity system that Starbucks (China) Innovation and Technology Co., Ltd. was recently established, which is wholly owned by Starbucks Coffee (Cayman) Holdings Ltd.).

According to the business license information, Luo Jinpeng is the legal representative of Starbucks (China) Innovation and Technology Co., Ltd., with a registered capital of 222 million yuan. The business scope includes software development, software sales, AI application software development, artificial intelligence basic software development, artificial intelligence theory and algorithm software development, Internet of things equipment manufacturing, computer system services, big data services, supply chain management services, etc.

For the full year of fiscal 2023, Starbucks' global consolidated net income reached $36 billion, up 12% from a year earlier, according to the financial report. Of this total, Starbucks China recorded revenue of US $840.6 million, an increase of 15% year-on-year excluding the exchange rate impact, and the annual income of the whole wealth reached US $3 billion, an increase of 11% over the same period last year.

Starbucks is also speeding up its store layout in the Chinese market. As of the fourth quarter, Starbucks had added a net 326 stores in China, bringing the total number of stores in China to 6806, up 13% from a year earlier. This is equivalent to opening nearly four new stores a day, setting another all-time high. At the Q4 earnings meeting, Starbucks Global CEO Nashan stressed that its strategy in China is to open 1000 stores a year and achieve the goal of 9000 stores by 2025, according to media reports.

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