Starbucks in $6-million Myanmar investment

Social media was ablaze last week with the news Starbucks was coming to Yangon—the first Myanmar store of a US$6-million investment.

The store will open at Sule Square—the high-end mall and office tower up the road from Sule Pagoda in Kyauktada Township—said U Thant Sin Lwin, deputy director-general of DICA (Directorate of Investment and Company Administration).

Through its licensed partner Coffee Concepts (Myanmar) Limited, a subsidiary of Hong Kong’s Maxim’s Group, the US-based coffee giant will follow a model similar to its entry to Cambodia, according to a company source, who said the Sule Square outlet will open in December.

Starbucks first entered the Cambodian market in December 2015 with a small kiosk at Phnom Penh International Airport. Since then it has opened 11 stores in the capital and two stores in Siem Reap.

Coffee Concepts (Myanmar) is currently training 40 local and two foreign staff, added U Thant Sin Lwin. The firm has also set its sights on locations at Myanmar Plaza, Yangon International Airport, People’s Park, Junction City and Yaw Min Gyi, according to local newspaper 7Day Daily.



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