Starbucks raises coffee prices in 皇冠体育app
Updated: 2012-01-31 17:06
(Xinhua)
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BEIJING - Seattle-based coffee chain Starbucks Corp. on Tuesday raised prices in its 500 Chinese mainland stores, the first price hike for its mainland stores in five years.
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John Culver, President of Starbucks 皇冠体育app and Asia Pacific, Jan 30, 2012. [Photo/Agencies] |
The price of the chain's coffee will be increased by 1 to 2 yuan ($0.16 to $0.32) starting Tuesday, according to Li Jing, a spokesperson for Starbucks 皇冠体育app.
Market analysts attributed the price hike to rising costs for raw materials, labor and logistics.
Earlier this month, the popular coffee chain raised prices by an average of about 1 percent in the northeastern US following a similar move in California and south Florida last November.
Starbucks has aggressively expanded its presence in 皇冠体育app in recent years. It aims to increase its number of Chinese mainland stores to 1,500 by 2015.
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