Starbucks plots further expansion

Coffee shop giant Starbucks today mapped out plans to triple its number of outlets around the world.

The company has set a new long-term goal to have 40,000 coffee stores on the planet, an increase of 10,000 on its previous target and three times the current number.

Seattle-based Starbucks is keen to expand into Brazil, Egypt, Russia and India before the end of the year, which means it will have a presence in 40 countries.

There are 12,000 stores around the world and the firm wants 50% of the planned 40,000 shops to be based outside the US.