Retail in Asia

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Starbucks plans China expansion

Starbucks Corp. CEO Howard Schultz said China is set to usurp Japan as its biggest market outside North America, as the coffee titan plans to open "thousands of stores" in China over time.

He also said the Seattle-based chain was eager to crack the potentially lucrative Indian and Vietnamese markets, where it doesn’t yet have a presence.

"Asia clearly represents the most significant growth opportunity on a go-forward basis," said Schultz, in an interview.