China News Service, Shanghai, March 22 (Reporter Jiang Yu) Starbucks launched the "Oleato" series of drinks in the Chinese mainland market on the 22nd. The creator of this series of drinks, Starbucks founder and honorary chairman of the board of directors, Howard Schultz personally visited Shanghai to share his story with "Oleato" with Chinese customers and partners.
Starbucks' financial report for the fourth quarter of fiscal year 2023 (July 3 to October 1, 2023) shows that Starbucks added 326 new stores in the Chinese mainland market during the quarter, and by the end of the fiscal year, the number of stores in mainland China reached 6,806. In the quarter, Starbucks' revenue in the Chinese mainland market reached US$840.6 million, a year-on-year increase of 15% (excluding the impact of exchange rate changes).
To expand rapidly in the Chinese market, innovation is essential. Among the newly launched "Oleato" series, "Oleato Lemon Latte" is an exclusive drink customized by Starbucks for the Chinese mainland market. Last summer, Starbucks launched 28 new coffee drinks in the Chinese mainland market. "Continuous product innovation is Starbucks China's unswerving pursuit and mission." said Wang Jingying, Chairman and CEO of Starbucks China.
On the evening of March 21, consumers experienced new products at the newly opened Apple retail store in Jing'an, Shanghai. This new store is second only to the global Apple flagship store on Fifth Avenue in New York. Photo by China News Service reporter Jiang Yu
On the evening of March 21, Apple CEO Tim Cook opened the door of Apple’s Shanghai Jing’an retail store to welcome Chinese consumers. This newly opened Apple retail store has 150 employees and is second only to the global Apple flagship store on Fifth Avenue in New York. Deirdre O'Brien, Apple's senior vice president of retail business, expressed the hope that the Jing'an retail store can "create an unimaginable shopping experience for customers."
The opening of the new store shows Apple's steady pace of expanding into the Chinese market. In addition to opening new stores, Apple will also strengthen its research and development capabilities in mainland China. Its official website announced that it will further enhance the functions of Apple’s Shanghai Research Center and open a new applied research laboratory in Shenzhen.
Recently, ALDI (ALDI) Shanghai Huangpu Manquan Neighborhood Store opened. This is ALDI’s 54th store since it came to Shanghai to open its first store in June 2019. This “community supermarket” from Germany "Maintaining the rapid development momentum of opening approximately 10 new stores in Shanghai every year. The concept of "adapting to local consumer needs" and the positioning of "rooting in the community" make ALDI stand out in China's highly competitive retail market.
Recently, fast food brand Subway has undergone a comprehensive upgrade from brand identity, store design, product research and development to product packaging. "Subway's global store count ranks among the top among chain restaurant brands, but it has not yet reached a corresponding status in China." Subway China CEO Zhu Fuqiang said: "This year, Subway China will rebuild the system and prepare for the future to open 500 new stores every year. To lay the foundation for 1,000 stores, within 10 to 20 years, we will open nearly 4,000 Subway stores in mainland China."
As a strategic highland that international brands are vying to seize, Shanghai is attracting high-quality resources from around the world with unprecedented market agglomeration and industrial traction, conveying to the world the infinite possibilities and endless charm of the Chinese market. Liu Min, deputy director of the Shanghai Municipal Commission of Commerce, said that in the future, Shanghai will continue to make efforts to deepen its brand strategy, build a more complete industrial chain ecology, and help more domestic and foreign brands "bloom brilliantly" here. (over)