Starbucks has a Greek problem -- fast growing Mikel Coffee Community, a Larisa-Greece based coffee shop chain which opened its first Australian store last month in Sydney and has plans for another dozen over the next three years. Everyone who has been to Australia will probably have noticed the absence of Starbucks stores in the streets and neighborhoods of major cities. As of last month, Starbucks has discovered it has another problem there -- the arrival of Mikel Coffee Community, a Greek coffee store chain, which has been spreading like fire at home and abroad. Mikel has already beaten Starbucks’ in the Greek market with close to 200 stores compared to 27 for Starbucks. Will Mikel Coffee Company succeed where Starbucks failed?

Source: Forbes September 08, 2018 13:52 UTC