In symbolic move, Starbucks to open first shop in Italy

Starbucks (NASDAQ:SBUX) is finally ready to take its Americanized version of Italian coffees back to Italy, with its first outlet set to open in early 2017.

Today’s announcement is especially significant for Starbucks Coffee Company chairman and ceo Howard Schultz. “Everything that we’ve done sits on the foundation of those wonderful experiences that many of us have had in Italy”.

With other major companies, Starbucks in Europe has come under the spotlight for its tax arrangements.

Italians with their refined tastes and coffee houses of the country that are a coffee aficionado’s delight could prove a challenge for the successful coffee chain retailer.

TheStreet’s Jack Mohr, director of research of Action Alerts PLUS, commented on Starbucks’ expansion: “Starbucks’ growth story is predicated both by sales momentum in its existing store base but also through its rapid, yet selective, expansion efforts internationally”.

Italy could be a challenging market for the company as coffee is a key part of Italian culture, with local shops competing to sell espresso and cappuccinos, the Guardian noted.

Starbucks “first store will be designed with painstaking detail and great respect for the Italian people and coffee culture”. Other stores are expected to follow. And, my hope is that we will create a sense of pride for our partners – so much so that every partner who sees our store or walks through the doors will say: “‘we got it right'”.

But the president of Percassi, an Italian coffee company with which Starbucks is partnering for its Italian crusade, voiced the organization’s confidence about its upcoming challenge in a prepared statement. In any case, we can’t wait to hear what Italians think of the Starbucks’ popular Pumpkin Spice Latté when fall rolls around.

To share in the experience, please visit us in our stores or online at news.starbucks.com. Its operation in Italy is a partnership with Percassi, a business company with interests in a range of industries from cosmetics to shoes and clothing.