Starbucks (SBUX) already has stores in the Middle East and northern Africa but the American coffee seller will be introducing new store locations in South Africa under a licensing agreement with Taste Holdings (TAS). According to the press release put out by Starbucks, the Seattle-based company will be opening full-format stores across South Africa. The first stores set to be opening will be in Johannesburg, South Africa’s largest city. Johannesburg store locations are set to open in the second half of 2016 with more South African store locations to come. In all of Starbucks’ international ventures, except in the United Kingdom, they have used licensing agreements to infiltrate foreign markets. Taste Holdings, Starbucks’ newest licensing partner, is a South African based company that has done licensing agreements for other American food and beverage companies like Dominos Pizza (DPZ) with whom they have a thirty year agreement to develop the pizza maker’s brand in South Africa and seven other African countries, according to Taste Holding’s investor page. Shares of Starbucks are up nearly 36% since the beginning of the year.
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