Starbucks Expands Into French Luxury Department Stores
Who knew? The French like Starbucks .
On Monday, Starbucks and French luxury department-store company Galeries Lafayette struck a partnership to open two stores by the end of the summer in Paris. Both stores will be located in Paris' 9th District, with the first one to open at Galeries' flagship Haussmann department store. In designing the stores, Starbucks says it will work to meet Galeries Lafayette's high-end atmosphere and architecture.
The Galeries Lafayette partnership reflects Starbucks' strategy for Europe. In the company's press release, Starbucks EMEA Senior Vice President Doug Satzman said, "We are developing partnerships with leading retailers across Europe, of which Galeries Lafayette is a prime example."
So far, Starbucks has 83 stores across France. As the company further expands across France and the rest of Europe, Starbucks will continue to focus on "significant" licensed partnerships.
If all goes well, then Starbucks and Galeries Lafayette have agreed that there will be more stores to come over the next few years.
Galeries Lafayette operates 60 department stores, with international locations in New York City, Dubai, and Jakarta.
The article Starbucks Expands Into French Luxury Department Stores originally appeared on Fool.com.Fool contributor Kevin Chen has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Starbucks. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.