Starbucks has announced a plan to add 17,000 new stores by the year 2030 in an effort to reach its goal of becoming the world’s biggest coffee chain.
The plan would involve adding 8,000 new stores in the U.S. and 9,000 in international markets. This would reportedly bring the total number of stores in the company’s portfolio to more than 55,000, surpassing the current biggest chains of McDonald’s, Subway, and Dunkin’ Donuts.
The company has also announced plans to invest $100 million to focus on expanding in “underserved areas.” According to Starbucks CEO Kevin Johnson, this includes “expanding access [to quality coffee] to more diverse communities around the world.”
In addition to its focus on expansion, Starbucks also plans to invest $250 million over the next five years to support Black and Latino communities through job creation and racial equity initiatives. Starbucks also plans to open 100 stores in Mexico by the end of 2021.
The company also reiterated its plans to open 10,000 “Greener Stores” globally over the next five years, with the majority of them in the United States. These stores are designed to be more environmentally friendly than traditional stores, with solar energy and other green design choices.