Taste Holdings: Leading Starbucks' African Charge

Lattes were selling like hotcakes at the Starbucks in the Johannesburg suburb of Rosebank during the grand opening on April 21st. The opening of the first Starbucks in all of sub-Saharan Africa was Apple-esque, with long lines snaking out from the store on Tyrwhitt Ave. Krispy Kreme had a similar reception when it opened its first store last year, just 160 feet away.

Who cares? We do. The sole license to operate Starbucks stores in South Africa is owned by Taste Holdings, one of our portfolio companies. The plan is to open up to 15 stores over the next 2 years and 150 stores longer-term. Will it work? It’s too early to tell, but early signs are positive. Howard Schultz, Starbucks’ CEO, commented last week that he had “never seen a line like this after a week of our opening.”

Read more: Africa Capital Group LLC Taste Holdings, Ltd: Leading Starbucks’ African Charge – Africa Capital Group LLC