BEIJING and HONG KONG, Sept. 20 /PRNewswire/ -- Starbucks Coffee has come
to the Great Wall of China.
Beijing Mei Da Coffee Co., Ltd. ("Beijing Mei Da"), a portfolio company of
H&Q Asia Pacific, has opened its newest Starbucks store in the Badaling
section of the Great Wall in Beijing, bringing Starbucks' high quality coffee
and legendary service to millions of domestic and foreign visitors a year.
H&Q Asia Pacific through Beijing Mei Da brought the first Starbucks Coffee
stores to China in 1999 and now operates 57 stores in Beijing and Tianjin.
"The introduction of the western-style coffee chain to the world's oldest
and most populated tea-drinking country proved to be an outstanding success,
with 48 stores in Beijing and nine stores in Tianjin today," said Charles
Wang, acting president of Beijing Mei Da Coffee Co., Ltd., the exclusive
licensed developer of Starbucks coffee stores in the Beijing and Tianjin
markets. "Starbucks, under Beijing Mei Da's development and operation, has
established itself as a lifestyle statement and symbol of economic progress
for the region."
Dr. Ta-lin Hsu, founder and chairman of H&Q Asia Pacific and chairman of
Beijing Mei Da Coffee Co., Ltd., said, "As a private equity firm, H&Q Asia
Pacific has strong confidence in China's economic reforms, as well as the
prospects of the country's economic development. We are proud of our role in
introducing this great brand to China in January 1999 when we opened the first
Starbucks store at Beijing's China World Trade Center. Branded consumer
products is a major component of our investment strategy in Asian markets.
The success of the Starbucks brand in China demonstrates the enormous vitality
of the Chinese consumer marketplace and proves that strong consumer brands
from the U.S. can be successfully transplanted into this market. We see great
growth opportunities for Starbucks-Beijing in the future, and we look forward
to working with Starbucks as a partner to realize that growth."
About Beijing Mei Da Coffee Co., Ltd
Founded in 1995, Beijing Mei Da Coffee Co., Ltd. is the exclusive licensed
developer of Starbucks Coffee International in the Beijing and Tianjin
markets. On January 11, 1999, Mei Da opened the first Starbucks Coffee store
in China, located at Beijing's China World Trade Center. This marked the first
time Starbucks world-famous coffee beverages, merchandise and freshly-made
food items were made available to customers on the mainland. Confident of
rapid-growth opportunities in China, Beijing Mei Da has plans to open
additional stores to meet customer demand.
About H&Q Asia Pacific
H&Q Asia Pacific is a premier private equity firm that invests throughout
the Asia Pacific region. Founded in 1985 by Dr. Ta-lin Hsu as a joint venture
with Hambrecht & Quist Group, H&QAP is today an independent private equity
firm that has managed total assets of $1.8 billion through offices in the
Silicon Valley, Hong Kong, Seoul, Shanghai, Singapore, Taipei and Tokyo. H&QAP
invests in a variety of sectors, including technology, manufacturing, branded
consumer products, financial services, media and real estate. For additional
information, visit www.hqap.com.
SOURCE H&Q Asia Pacific