Alshaya Group has acquired the operating rights for 48 Starbucks stores in Greece and Cyprus, transferring management from the Marinopoulos family after a 24-year partnership. The deal expands Alshaya’s presence as a licensed operator of the brand in the region.
Strategic Expansion And Market Consolidation
Under this new arrangement, Alshaya will oversee 30 stores in Greece through its newly established entity, Alshaya Hellas SMSA, and 18 outlets in Cyprus under Murgab Cyprus Ltd. Employing approximately 500 individuals across both markets, the transition is expected to enhance operational efficiencies and accelerate growth within the region.
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Leadership Transition And Continued Partnerships
A 24-year partnership with the Marinopoulos family concludes with this transaction, marking the end of Starbucks’ initial expansion phase in both markets. Yiannis Marinopoulos, former chief executive, is expected to return to the family business. Starbucks said it will continue working with Alshaya as its regional licensed partner.
Vision For A Dynamic Future
Saleh Alshaya, President of Starbucks at Alshaya Group, said the company plans to expand its store network and product offering in Greece and Cyprus. Plans include integration of new teams and continued development of the brand’s presence across both markets.
Regional And Global Business Significance
Duncan Moir, President of Starbucks EMEA, said Alshaya will continue expanding the brand’s presence in the region as its largest licensed partner. He referred to the company’s existing operations and scale across international markets.
Alshaya opened its first Starbucks store in Kuwait in 1999 and now operates more than 2,000 locations across 13 countries, serving over one million customers daily. The addition of Greece and Cyprus extends its footprint in Europe.
Jacqueline Delpippo, Business Manager for Starbucks Greece and Cyprus at Alshaya Group, will oversee the transition process. The company said operations will continue without disruption during the handover.
