ICA Sweden and Starbucks Signs Licensing Agreement
ICA Sweden plans to open Starbucks in-store locations at Swedish ICA stores.
ICA Sweden has signed a licensing agreement with Starbucks Coffee Company (Nasdaq: SBUX) to open Starbucks retail stores in the grocery store channel in Sweden. The cafés will be operated by ICA according to the Starbucks licensing concept and under the Starbucks brand.
“By adding new businesses that complement and strengthen ICA’s stores and marketplaces, we can generate growth in our core business, grocery retail. The café sector is growing and this is part of our plan to strengthen our customer offering over time,” says Per Strömberg, CEO of ICA Gruppen.
Initially, the plan is to open three Starbucks retail stores during 2015. These will then be evaluated before a decision is made on the possible establishment of more cafés.
“We are very pleased with our partnership with Starbucks. Just like ICA, Starbucks has a strong brand and a clear focus on quality and ethics and shares the vision of satisfied customers. This is a good example of how we can increase customer benefit and highlight our stores as destinations,” says Anders Svensson, Deputy CEO of ICA Gruppen and CEO of ICA Sweden.
About Starbucks
Since 1971, Starbucks Corporation has been committed to ethically sourcing and roasting the highest quality arabica coffee in the world. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Through a unwavering commitment to excellence and guiding principles, Starbucks bring the unique Starbucks Experience to life for every customer through every cup. For more information, please visit Starbucks retail stores or online at Starbucks.com.
For more information
ICA Gruppen press service, Telephone number: +46 10 422 52 52
ICA Gruppen discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.00 CET on Tuesday, 16 September 2014.
ICA Gruppen AB (publ) is one of the Nordic region’s leading retail companies, with around 2,300 of its own and retailer-owned stores in Sweden, Norway, Estonia, Latvia and Lithuania. The Group includes the retail companies ICA Sweden, ICA Norway and Rimi Baltic, ICA Real Estate, which owns and manages properties and ICA Bank, which offers financial services to Swedish customers. The Group also includes the wholly owned portfolio company inkClub and partly owned portfolio companies Cervera and Hemtex. For more information see icagruppen.se
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