Starbucks to open 20 branches in Myanmar
Hong Kong’s Coffee Concepts won the rights to open the coffee brand in the country.
The Myanmar Investment Commission (MIC) has officially permitted Coffee Concepts Myanmar Ltd to operate Starbucks outlets, with the first one opening in Yangon.
According to the Myanmar Times, the MIC also approved a total of 20 Starbucks branches in the country with a requested roll-out period of nine months.
Starbucks will reportedly invest $6 million to open the 20 outlets, according to the Directorate of Investment and Company Administration (DICA). The beverage company has also selected Sule Square Mall in Yangon as their first outlet’s location.
Coffee Concepts is a division of the Maxim’s Group, a partly owned unit of Dairy Farm International. The company currently operates Starbucks in Hong Kong, Singapore, Vietnam and Cambodia.
(Photo credit: Starbucks Cambodia, operated by Coffee Concepts)
