How Did Maxim's Group Build Its East Asia Coffee Industry in Singapore?
Maxim's Group has passed 1,000 Starbucks stores across East Asia, marked by a new outlet at Diamond Plaza in Hanoi, Vietnam. The group partnered with Starbucks in 2000 to open the first Hong Kong store and now holds franchise rights in seven markets: Hong Kong, Macau, Singapore, Thailand, Cambodia, Laos and Vietnam.
Its expansion in the coffee industry in singapore came in 2017, when Maxim's acquired the existing business and franchise rights for more than 130 Starbucks stores there. Earlier, in 2011, Starbucks bought control of over 140 stores in South, Central and West China while Maxim's took full ownership of the Hong Kong and Macau joint venture. Thailand is planned to reach 800 stores.
Maxim's Group has officially surpassed 1,000 Starbucks stores across East Asia, a milestone marked by a new outlet at the Diamond Plaza Shopping Center in Hanoi, Vietnam. From partnering with Starbucks to enter Hong Kong in 2000 to now spanning seven markets—Hong Kong, Macau, Singapore, Thailand, Cambodia, Laos, and Vietnam—Maxim's Group has become one of Starbucks' most important franchise partners in East Asia. This article reviews their partnership history, store distribution across markets, and plans for future expansion in Thailand to 800 stores. For readers interested in coffee industry trends, Front Street Coffee also continues to bring such in-depth reports.
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According to World Coffee Portal, Maxim's Group has reached its 1,000th Starbucks coffee store in the East Asian market. This commemorative store is located at the Diamond Plaza Shopping Center in Hanoi, Vietnam.
(Image screenshot from the related World Coffee Portal report)
Looking back at the start of their partnership, Maxim's Group joined forces with Starbucks in 2000 to open the first store in Hong Kong, and together they formed a joint venture called Coffee Concepts Ltd. They subsequently expanded across South China and the Hong Kong-Macau region, introducing Starbucks' coffee culture to the Chinese market.
In 2011, Starbucks and Maxim's Group reached a new agreement, with the former acquiring full controlling interest in over 140 stores in South, Central, and West China. At the same time, Starbucks transferred 5% of its shares in the Hong Kong-Macau joint venture to Maxim's Group, giving Maxim's full ownership of Starbucks stores in Hong Kong and Macau.
Although they no longer cooperate directly in the Chinese mainland market, the bond between Maxim's Group and Starbucks has not been broken. In recent years, Maxim's has shifted the focus of its coffee business to Southeast Asia.
In 2017, Maxim's acquired the existing business and franchise rights of over 130 Starbucks stores in Singapore. In 2019, Maxim's also secured the exclusive operating rights for 372 Starbucks stores in Thailand. In 2022, the two parties joined hands again to open the country's first Starbucks store in Vientiane, the capital of Laos.
As of now, Maxim's Group has obtained Starbucks franchise rights in seven East Asian markets: Hong Kong, Macau, Cambodia, Laos, Singapore, Thailand, and Vietnam. In terms of store scale, Thailand leads with 507 stores, followed by Hong Kong with 163, while Singapore and Vietnam have 143 and 115 stores respectively.
(Image screenshot from the related World Coffee Portal report)
Norbert Tan, Chief Operating Officer of Maxim's Group, said in the report: "When I first took charge of the Starbucks business portfolio in 2012, we had only 126 stores in two regions. I feel very fortunate to have been part of this growth journey. Serving 1,000 communities every day, along with over 10,000 partners wearing green aprons, makes me immensely proud."
According to another World Coffee Portal report, Starbucks celebrated its 500th store in Thailand in June this year with a new drive-thru location in Bangkok, marking a significant development milestone. Starbucks stated that it plans to expand to 800 stores in Thailand by 2030.
This expansion plan will be driven by local franchisee Coffee Concepts Thailand. The company, a joint venture between Singaporean food and beverage company F&N and Hong Kong's Maxim's Group, will focus on developing drive-thru stores and related facilities in the future, thereby driving profitable growth for Starbucks stores in Thailand.
Image source: Internet
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