Starbucks and its long-term Central American strategic licensing partner Premium Restaurants of America (PRA) opened its flagship Panama store on Thursday in Panama City’s Street Mall shopping center, marking its 15th location in Latin America.
With a nod to local sourcing, the new store features Starbucks Reserve Panama Carmen Estate coffee, obtained from the Volcán Chiriquí Valley, where coffee producer Carlos Aguilera produces specialty coffees on his award-winning family estate. Starbucks has featured coffee from farms in Panama since 2000.
“We are proud to bring the Starbucks Experience to customers in Panama and build our brand in a way that honors the coffee passion and traditions inherent to this region,” Rich Nelsen, senior vice president and general manager for Starbucks in Latin America, said. “By extending our relationship with Premium Restaurants of America, we are diligently positioning the brand for continued growth in Latin America.”
El Salvador-based PRA first collaborated with Starbucks in 2010 to open the company’s first San Salvador store. Subsequently, PRA has opened 19 Starbucks venues: eight in El Salvador, five in Guatemala, five in Costa Rica and the new Panama outlet. The partner companies expect to open 20 additional stores in Panama City in the next five years.
“We are honored to be Starbucks’ strategic partner in Central America,” Francisco Alemán, PRA’s general director for Central America, said. “Our local market knowledge combined with our proven track record of operating Starbucks stores will allow us to offer an exceptional experience to Panamanian customers. With the arrival of Starbucks in Panama, we are confident that we can continue to drive growth in the region by bringing customers a truly unique retail experience.”
Starbucks now has more than 880 stores employing more than 12,000 individuals throughout Latin America.
