Starbucks’ Growth in Mexico and Beyond
Starbucks Coffee Company has announced that it will surpass 1,000 stores in Mexico by 2026. This milestone will solidify Mexico’s position as Starbucks’ largest market in Latin America and the Caribbean, ranking it seventh globally.
Since opening its first store in Mexico City in 2002 through a partnership with Alsea, Starbucks has maintained steady growth. As of June 2023, the company operated 909 stores and opened 72 new locations in 2024.
Starbucks’ Mexican Success Story
Francisco Tosso, CEO of Starbucks Alsea, confirmed this expansion, stating that the company has expanded its presence both north and south of Mexico since its arrival. He emphasized that Starbucks has maintained consistent investments and growth in Mexico.
Expansion Plans in Latin America and the Caribbean
Alongside its expansion in Mexico, Starbucks unveiled its growth strategy for Latin America and the Caribbean. The company plans to open 145 new stores across the region in the coming year, targeting six new cities including Guayaquil, Ecuador; Tegucigalpa, Honduras; Las Flores and Mazatenango, Guatemala; Arraiján, Panama; Providenciales, Turks and Caicos Islands; and Puerto Varas, Chile.
Additionally, Starbucks will open a signature store in El Salvador dedicated to supporting local youth and artistic education.
Starbucks’ Commitment to Sustainability
The new stores opening in 2026 will be built under Starbucks’ Greener Stores certification, focusing on reducing carbon emissions, water usage, and waste generation. Currently, over 400 stores in 25 markets have this certification.
Restructuring in North America
This expansion announcement follows recent news of Starbucks’ restructuring efforts in the United States and Canada. The plan includes closing stores and eliminating 900 jobs, estimated to cost $1 billion in North America operations.
- Store Reduction: Starbucks expects a 1% reduction in the total number of operated units in these markets, including new openings, leaving approximately 18,300 stores in the region.
- Opening Plans: The company plans to open over 1,000 locations in the next year.
- “Back to Starbucks” Plan: This initiative, led by CEO Brian Niccol since September 9, 2024, aims to increase the chain’s profitability by closing unprofitable locations.
“We’ve identified stores where we cannot create the physical environment our customers and partners expect, or where we don’t see a path to financial success. These locations will be closed,” Niccol stated in a company letter.
