Starbucks Changes Ownership in Panama

Caribbean Coffee Traders Limited will operate from August 1st the 11 coffee shops that in the country operate under the Starbucks brand.

Thursday, July 23, 2020

Starbucks executives for Latin America and the Caribbean informed that Caribbean Coffee Traders Limited (CCTL) is managed by businessmen Adam Stewart and Ian Dear, who have a license that leads Starbucks operations in three Caribbean markets, Jamaica, the Cayman Islands and the Turks and Caicos Islands.

See "Coffee: Potential Market and Consumer Preferences."

Ricardo Rico, Starbucks vice president and general manager for Latin America and the Caribbean, told Laestrella.com.pa that "... We are focused on expanding our alliance with Caribbean Coffee Traders Limited through Starbucks Panama, and on beginning this new chapter."

Rico added that "... Starbucks, which arrived in the country five years ago, currently has eleven stores in Panama and over eighty partners. We are confident that this will bring new growth opportunities for all."

According to studies by CentralAmericaData, in the Panamanian coffee market consumers associate the product with the types of latte and cappuccino drinks.

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More on this topic

Central America: Potential Market for Coffee Shops

August 2020

Starbucks of Condado Concepción, located on the road to El Salvador, Guatemala, is a sales point that at a distance of 15 minutes by car, has a potential market of more than 150 thousand consumers, and of this group of people 43% are interested in coffee.

Using the Geomarketing solutions we have developed for our clients, CentralAmericaData's Trade Intelligence team analyzed the environment of some of the main coffee shop locations in Central America. Below is an extract of the study's findings.

Home office and Coffee Market

July 2020

Due to the reduction in office work and the increase in teleworking, Costa Rican toasters estimate that the local market demand for the beverage has contracted between 15% and 20%, when compared to sales levels prior to the beginning of the health crisis.

With the spread of covid-19 several companies and public institutions, which were able to accommodate their employees' work in the form of teleworking, stopped buying coffee for consumption in the offices.

Coffee: More Demanding Consumers

November 2018

Although consumption has remained stable in recent years, the Costa Rican market now demands greater quality and variety in preparation methods.

According to figures from the Chamber of Coffee Roasters, per capita demand in the country is around four kilograms of coffee beans per year, which is equivalent to two cups of coffee per person per day.

Starbucks Announces Plans to Open in Central America

August 2010

The chain's first coffee shop will open toward the end of next year in the Salvadoran capital.

Starbucks Coffee Company and Corporación de Franquicias Americanas (CFA), one of Central America's largest franchise operators, have entered into a 'a strategic area development agreement' to open licensed Starbucks stores across the region.

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