Costa primed to triple China presence by 2020
Costa owner Whitbread has revealed a substantial Chinese expansion from 344 to 900 coffee shops by 2020.
The expansion strategy, outlined in Whitbread’s earnings, stated that it seeks to operate 900 coffee stores in China and 20 further franchise stores throughout South East Asia, back on home territory.
The chain also plans to open 529 new stores in the UK over the next five years.
Costa displayed an 17.9 per cent sales boost to £951.9m compared to the previous year, supplemented by a 20.7 per cent growth in operating profit to £132.5m.
Andy Harrison, chief executive of Whitbread, said: "Whitbread had an outstanding year, Costa, the UK's favourite coffee shop chain, extended its outstanding track record... with 219 net new stores worldwide and 777 net new Costa Express machines.
“We are continuing to invest in strengthening our brands and organic network growth, including in selected international markets.”
By 2020, Whitbread is aiming for Costa’s international sales to reach £2.5bn.