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# Starbucks CEO Comments on Prices in China

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<!-- video src="https://cdn.jwplayer.com/manifests/CKrjvej2.m3u8" -->
## Video: Starbucks CEO Comments on Prices in China

[Watch (HLS stream): Starbucks CEO Comments on Prices in China](https://cdn.jwplayer.com/manifests/CKrjvej2.m3u8) (1:10)

![Starbucks CEO Comments on Prices in China](https://cdn.jwplayer.com/v2/media/CKrjvej2/poster.jpg?width=720)

_Published 2013-10-24. Starbucks CEO Howard Schultz explains why prices are higher in China in a CNN interview._


---

Jul 27, 2023 3:52 PM UTC

---

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---


## Transcript

They are higher in China, and I think what we've done in the last 48 hours, I think is very important. And that is, we've been completely transparent and up front with the reasons why. And as a result of that, I think we've calmed people down, and we've gotten the benefit of the doubt. They're higher because we have made significant investments in China to build a major business in which we've hired 20, 000 people. We've invested significantly ahead of the growth curve to build an even bigger business, and our cost structure is higher there. So we're not apologizing for it, we're explaining it.

We are investing significantly Ahead of the growth curve now, so the prices will remain the same for quite some time. Well, the Chinese business today, for Starbucks, is unique in that for the first few years we had tourists and ex- pats. That was our customer. Today it's Chinese nationals. We are, I think, highly respected and admired in China for the kind of company we are. We are still bullish on China. I think at times there is navigational issues that you gotta work through. Right. But we are committed to building a major business in China, and this is just one issue that we will overcome.

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