Italian coffee giant Saicaf may be planning to invest some $15.9 million to set up approximately 100 retail cafes throughout China over the next four years.
The company, one of Italy’s top coffee distributors and retail operators, is the latest to expand its interests in China, which Starbucks believes will represent the second largest coffee market in the world in as little as two years.
According to the state-controlled English language newspaper China Daily, Saicaf set up a flagship facility in Shanghai last month, and it plans to open as many as 20 retail outlets in Shanghai and Beijing within the next two years. According to the report, the four-year plan is to build out approximately 100 stores in provinces throughout China.
The full story: China Daily