Goubuli runs Australian coffee chain
Print Edition
GOUBULI, a renowned Chinese restaurant chain known for its steamed stuffed buns, said they sealed a deal with Gloria Jean’s Coffees to operate the Australian brand in China.
Tianjin Senyongtai Food and Beverage Co, a subsidiary wholly owned by the Goubuli Group, will hold an 80 percent stake in “Tianjin Glory,” a new joint venture that will operate Gloria Jean’s coffee brand in China under the deal reached on December 25, Goubuli’s Board Chairman Zhang Yansen said yesterday.
The Australian firm will hold the remaining 20 percent, he said.
“Our negotiations began at the end of 2012 and lasted for almost two years,” said Zhang.
Gloria Jean’s Coffees currently has 12 outlets in China, including branches in Tianjin, Shanghai and Chengdu. One of the shops is located next to a Goubuli buns outlet in Tianjin’s Nankai District.
Zhang said the new deal will increase Gloria Jean’s outlets in China to 200 in the coming five years.
Gloria Jean’s currently operates about 1,000 stores in 42 countries and regions.
China’s coffee consumption is growing at 15 percent annually, much faster than the global average growth rate of 2 percent a year, said Zhang Yansen.
A market survey has found China’s coffee consumption in 2012 totaled 70 billion yuan (US$11.4 billion). Zhang predicted the figure will climb to 150 billion yuan in five years.
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