Starbucks to grow to 55,000 global stores by 2030, sees $3 bln in cost savings

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An employee stakes a customer's order as others make drinks at a Starbucks' outlet at a market in New Delhi, India, May 30, 2023. REUTERS/Anushree Fadnavis/File Photo Starbucks (SBUX.O) is planning to expand its global store footprint to 55,000 s...

2023.11.03

An employee stakes a customer's order as others make drinks at a Starbucks' outlet at a market in New Delhi, India, May 30, 2023. REUTERS/Anushree Fadnavis/File Photo

Starbucks (SBUX.O) is planning to expand its global store footprint to 55,000 stores by 2030, CEO Laxman Narasimhan said on Thursday.

The coffee chain is also targeting cost savings of over $3 billion over the next three years, Narasimhan said while speaking at the company's 2023 "Reinvention Update and Holiday Launch" conference.

Reporting by Deborah Sophia in Bengaluru; Editing by Anil D'Silva