Starbucks targets 1,000 Brazil locations

Aggressive expansion: Cars driving through a Starbucks in Salem, New Hampshire, in the north-east of the United States. The company says it plans to expand its global store footprint to 55,000. — AP

SAO PAULO: Brazilian restaurant operator Zamp SA is looking to expand Starbucks’ presence in the country to 1,000 locations – a nearly 10-fold increase from today. Zamp, which is backed by Mubadala Capital, sees the aggressive expansion starting in about two years, according to a person familiar with the matter who asked not to be named discussing private information.

While the timeline for the recently acquired business still isn’t exact, the company sees it as a mid-term target, the person said.