Starbucks Coffee plans to enter the Latin American market for the first time later in the year, by opening its first outlet in Mexico City. The store is part of a joint venture agreement with an affiliate of a Mexican restaurant operator, Alsea.

In addition to Mexico, Starbucks plans to expand operations to other Latin American countries including Argentina, Brazil, Chile, Colombia, Peru, Puerto Rico and Venezuela. The company aims at opening about 900 stores in the region by 2005.

For 2002, Starbucks said it plans to open at least 1,200 new outlets globally, while it expects revenues to rise 20 percent.

Some information for this report provided by Reuters.

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