Global coffee giant Starbucks is set to open its first-ever stores in Jamaica.
The company has entered into a geographic licensing agreement with Caribbean Coffee Traders Limited, a consortium led by the Margaritaville Caribbean Group.
The agreement gives Caribbean Coffee Traders the exclusive rights to own and operates Starbucks locations in the country.
The first Starbucks is slated to debut in Montego Bay, making Jamaica the company’s 17th market in the Latin America and Caribbean region.
“Jamaica is a country blessed with a rich culture and heritage, particularly with its locally-grown and world renowned Blue Mountain coffee, which Starbucks has sourced as a specialty offering for over 40 years,” said Ricardo Rico, Starbucks general manager and vice president for Latin America operations. “We are delighted to build on this legacy and continue our expansion into the Caribbean by introducing the Starbucks Experience in Jamaica for the first time. As we position the brand for continued growth, we are proud to add Caribbean Coffee Traders to our strong network of licensing partners and leverage their proven market capabilities to reach new customers.”
Caribbean Coffee Traders is a joint venture between Ian Dear, Chief Executive Officer of Margaritaville Caribbean Group and Adam Stewart, who is also Deputy Chairman and Chief Executive Officer of Sandals Resorts International.
“We are thrilled to welcome Starbucks, a globally recognized brand, to Jamaica. Leveraging our knowledge of the local market, we will deliver upon the Starbucks Experience and create a global platform for Jamaica’s locally-grown and Blue Mountain coffee.” said Ian Dear, Chief Executive Officer of Margaritaville Caribbean Group. “Our organizations share similar values, including our dedication to the customer experience, commitment to our crew members, and responsible corporate citizenship.”