Starbucks Racks up Over W1 Trillion in Sales in Korea
Marissa Reid, Nov. 21, 2018, 8:51 a.m.
Starbucks' sales in Korea have surpassed W1 trillion for three consecutive years (US$1=W1,127).
The American coffee franchise said Tuesday that sales reached over W1.1 trillion in the first three quarters of this year, up 21.2 percent from the same period last year. Operating profit also hit a record W101.5 billion, up 27.5 percent.
Starbucks opened its Korean branch as a joint venture with Shinsegae's superstore chain E-Mart in 1997. It had some 2,025 outlets here as of late October with an increase of more than 100 every year.
A staffer said the franchise has tried to meet customers' needs by changing the interior design and developing new menus. He added that introducing its mobile ordering service "siren order" has played a role in attracting more customers.