Price hikes brewing for Starbucks drinkers_美文

Price hikes brewing for Starbucks drinkers

"The company has no plans to raise prices in the near future," said Su Bo, marking manager of Costa Coffee in Beijing.

Chinese coffee rivals such as UBC Coffee, which has about 500 stores nationwide, said their prices wouldn't change in the near future.

Another competitor, Sculpting In Time Cafe, which has 18 cafes in the country, said it would soon introduce a new menu and adjust some prices.

Last month, McDonald's Corp increased the prices of some of its menu items in China by 0.50 to 2 yuan, which the US fast-food giant attributed to rising costs of property and materials.

Starbucks operates more than 500 cafes in nearly 50 Chinese cities. It aims to triple its mainland outlets to 1,500 by 2015.

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Price hikes brewing for Starbucks drinkers

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