Gourmet Master to Challenge Starbucks on China’s Street Corners
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Gourmet Master Co., operator of Taiwan’s largest coffee-shop chain, plans to increase its China outlets more than sixfold to 1,000 to challenge Starbucks Corp. in the fastest-growing major economy.
The company will use proceeds of a planned initial public offering in Taipei to open stores in cities such as Shenzhen, Chengdu and Wuhan, aiming to reach its expansion target by 2015, Chairman Wu Cheng-Hsueh said in a phone interview yesterday.