Starbucks set to open its first Jamaican café
International coffee chain Starbucks has entered an agreement with Caribbean Coffee Traders Ltd to open its first café in Jamaica, in a move that is likely to shake up the existing local coffee shop market.Under the agreement, Caribbean Coffee Traders Ltd which is a consortium led by the Margaritaville Caribbean Group, will have exclusive rights to own and operate stores on the island, with the first store to be opened in Montego Bay.
According to Starbuck’s website, the operation will be a joint venture between CEO of Margaritaville Caribbean Group, Ian Dear, and Deputy Chairman and CEO of Sandals Resorts International, Adam Stewart.
Jamaica will be the 17th market in the Latin American and Caribbean region in which Starbucks will operate.
“Jamaica is a country blessed with a rich culture and heritage, particularly with its locally grown and world-renowned Blue Mountain coffee, which Starbucks has sourced as a specialty offering for over 40 years,” said Ricardo Rico, Starbucks general manager and vice president for Latin America operations.
“We are delighted to build on this legacy and continue our expansion into the Caribbean by introducing the Starbucks Experience in Jamaica for the first time. As we position the brand for continued growth, we are proud to add Caribbean Coffee Traders to our strong network of licensing partners and leverage their proven market capabilities to reach new customers.
Margaritaville Caribbean Group’s portfolio of brands includes Wendy’s, Dairy Queen, Domino’s Pizza and Cinnabon.
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