Starbucks coffee chain expresses interest in entering Armenian market

YEREVAN, October 8. /ARКА/. Armenia's Minister of Economy Gevorg Papoyan engaged in discussions on the potential entry of Starbucks into the Armenian market with Figen Ilgaz, Vice President of Starbucks-Alshaya Group Eurasia, and Khanzade Kugi, the company's Director of Real Estate.

As reported by the press service of the Ministry of Economy, representatives from Starbucks indicated that the prominent chain currently operates in around 86 countries globally, boasts over 40,000 coffee shops, and is keen on expanding its presence in the region.

The parties also explored avenues for developing the coffee shop sector in Armenia, addressing the existing potential, opportunities for enhancing infrastructure, the characteristics of the Armenian coffee consumption market, and its growth patterns.

Attracting high-quality international investment is a priority for Armenia, and we consider your visit a promising step in this direction," stated Papoyan.

He further noted that Armenia provides a stable, open, and reform-oriented business climate, supported by a young and well-educated workforce, a consistently growing tourism industry, and a vibrant and competitive consumer market.

During the meeting, the minister expressed his readiness to assist the company in establishing a presence in the Armenian market, highlighting that this initiative would also significantly enhance tourism flows to the country.

Also attending the meeting were Anushik Avetyan, Deputy Minister of Economy, and Gohar Abajyan, Executive Director of Enterprise Armenia.-0-