Starbucks coffee has signed a joint-venture agreement with Alsea to form Cafe Sirena which will operate Starbucks retail locations throughout Argentina, with the first store scheduled to open in Buenos Aires in the second half of fiscal 2008.
Starbucks coffee has signed a joint-venture agreement with Alsea to form Cafe Sirena which will operate Starbucks retail locations throughout Argentina, with the first store scheduled to open in Buenos Aires in the second half of fiscal 2008.
In addition to opening and operating stores in Argentina, Alsea is also partnering with Starbucks in Chile to further develop the brand in the country.
Buck Hendrix, president of Starbucks Latin America, said: "Starbucks is humbled and honored to be welcomed into Argentina, a country with a rich coffeehouse culture. We look forward to becoming a part of this great tradition and contributing to its prosperity. We have found that when we share our passion for the highest-quality coffee available and the Starbucks Experience in a new market, we help the local specialty coffee industry flourish, benefiting consumers and other coffeehouses."
Alberto Torrado, CEO of Alsea, Starbucks partner in Argentina, said: "Contributing positively to communities and the environment is a fundamental part of both Starbucks and Alsea's culture. That's why we are proud to be partnering together again. Both companies are passionate about operating a successful business while giving back to programs that benefit others."