Insights: Starbucks CEO on China Trade Tensions: "We're Playing the Long Game"
CEO Kevin Johnson plans to open a new Starbucks store every 15 hours in China. (October 2018)
SPEAKER 1: You know, the number of jobs that we create in China, the number of customers we serve in China, the investment we make in building our stores is from local Chinese contractors. We work with Chinese artisans that make many of the artwork and much of the design in our stores. And so we're really integrated in China. And we're playing the long game. SPEAKER 2: Tell us a little bit about the local competition in China because we've been hearing more and more about this company called Luckin Coffee came from nowhere and now they're opening up stores everywhere. They seem to be pretty popular. How do you feel about them coming in on your turf? SPEAKER 1: You know, clearly, there are going to be more competitors. And we've always had competitors. So it's no surprise that there will be-- there will be new competitors in China and new competitors around the world. But we have to stay focused on the experience we create in our stores. You know, we serve 100 million customers a week in our stores and that's really where we set the brand.