Starbucks already planning to expand

“We are studying the local market and are interested in opening street locations in Bucharest,” according to a statement for Business Standard by Viorel Stoiean, District Manager of Marinopoulos Coffee Company III. The company already owns two locations in Bucharest, in Plaza Romania and Bucharest Mall.

Another Starbucks will open next year in Cluj-Napoca. “Cluj is an important opportunity for Romania,” said Stoiean. Starbucks representatives believe that Romania’s coffee shop market offers many possibilities for expansion.

“We came to Romania eight months ago and we trust in the potential of the local coffee shop market. One of the most important factors is that Romanians have changed their consumption behavior,” Stoiean added. He also thinks that this behavior is no different than other countries with Starbucks coffee shops. “We noticed that clients have a more active lifestyle, similar to the West. People spend less time on lunch breaks and can be seen in the growth of the “take-out” segment, said Viorel Stoiean, which in the two locations makes up 25 percent of total revenue.

Romania was chosen as the first location in Central and Eastern Europe because it represents a launch pad for this market. According to Stoiean a Starbucks coffee shop will be opened in 2008 in Sofia.

Currently, Starbucks operates 14,000 locations in 42 countries outside the United States. The first European locations were opened in Great Britain in 1998. There are over 1,200 locations in Europe right now.

The company recently announced an increase of 31 percent in revenues, up to €317 million. For 2008, Starbucks representatives estimate an increase of 3-5 percent in sales. Net income is also expected to increase by 18 percent, up to €7.3 billion.