With Mendoza Double Shot, Starbucks Hits 60 in Argentina

Patrick Archer foreign investment, lifestyle, us companies

Starbucks in Argentina

New partners are all smiles the day before the SBUX grand opening in Mendoza. (Source: @StarbucksAr)

Exactly six months after announcing plans to open the first Starbucks in Mendoza, the company is cutting the green ribbon on two new Mendoza locations this week: Mendoza Plaza Shopping and Palmares Open Mall.

Yesterday’s Mendoza Plaza Shopping grand opening brought the number of Starbucks locations in Argentina to an even 60, while Friday’s Palmares debut will raise the total to 61. There were only 36 Starbucks in Argentina this time last year, so Latin America licensee Alsea is on pace with their plan to open 25 new Argentina SBUX locations per year and potentially double the current network to 120 stores by 2015.

Alsea invested US$1.3 million (6 million pesos) in the first two Mendoza locations and created 40 new jobs for young baristas, according to Los Andes’ Miguel Angel Flores. In addition to Capital Federal and Mendoza, the company now operates stores in the provinces of Buenos Aires, Cordoba and Rosario.

Starbucks opened its first Argentine location in Buenos Aires on May 30, 2008. Since that time, the company’s share have risen almost 200%. (NASDAQ: SBUX) (Full Story in Spanish)

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