Starbucks Has an Australia Problem

Photograph Christopher Furlong/Getty Images

In the U.S., Starbucks may be on every street corner and in every shopping center, but in Australia, the chain has been whittled down to a mere 24 cafes. Unable to grow down under, the company has licensed its local chain to the Withers Group, which operates 7-Eleven in Australia and will take over the existing cafes there. The amount of the deal was not disclosed.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.