Starbucks CEO says China business could outgrow US as it opens coffee roastery in Shanghai

Starbucks CEO said China will one day be a larger marker than America for the coffee chain.

The company currently has more than 2,000 stores across 100 cities in China, with over 300 outlets in Shanghai alone (Getty Images)

Starbucks CEO said the company’s China’s business could one day outgrow that of the United States as it opens its first coffee roaster outside of the country.

Shanghai will be home to the coffee giant’s first international Reserve Roastery and Tasting Room in 2017, Starbucks announced on Thursday. At about 30,000 square feet, the store will be roughly double the size of the coffee chain original roastery that opened in Seattle in December 2014.

Howard Schultz, the coffee chain CEO said China remains the company’s largest market outside the US and is predicted to expand further

“I wouldn't be surprised if one day we have more stores in China than we do in the US” told CNBC .

“We've been so successful in China over many years and we're just starting to get the morning-day part — where we're educating local Chinese to drink coffee in the morning,” he added.

The company currently has more than 2,000 stores across 100 cities in China, with over 300 outlets in Shanghai alone. Its goal is to reach 3,400 stores by 2019.

Schultz said that he is not concerned over the changes expected in the Chinese economy.

“I think what we've established early on is a great enduring relationship with the local customer and … the municipalities,“ said Schultz.

”I'm very optimistic over the long term that we will succeed there and build long-term value for our shareholders,“ he added/

The opening of the Shanghai roastery comes after Starbucks announcement that it will be open a megastore in New York in 2018.

Starbucks profit in its latest quarter increased by 16 per cent as the coffee chain drew more mobile customers in the US.