Alshaya Group takes over Starbucks Greece and Cyprus operations
The new entities will operate as Alshaya Hellas SMSA in Greece and Murgab Cyprus Ltd in Cyprus.
Alshaya Group has announced it has acquired the licensed Starbucks business in Greece and Cyprus, taking over full ownership and operations.
The business was previously run by the Marinopoulos family, with Managing Director Giannis Marinopoulos stepping down and returning to the family’s other business interests.
Starbucks operations in Greece and Cyprus began in 2002 and currently include 30 stores in Greece and 18 in Cyprus, employing about 500 people.
Alshaya Group is one of Starbucks’ major global licensing partners and has worked with the brand since opening its first Starbucks in Kuwait in 1999.
It now runs more than 2,000 Starbucks stores across 13 countries, serving over one million customers daily.
The Greece and Cyprus business will now be overseen by Alshaya Group Starbucks Business Manager Jacqueline Delpippo.
The company says its immediate focus is on maintaining operations during the transition.
In the longer term, Alshaya plans to review the customer experience and explore expansion opportunities in the region.
The new operating entities will be registered as Alshaya Hellas SMSA in Greece and Murgab Cyprus Ltd in Cyprus.
