South Korean retailer plans to compete with Starbucks in China

• South Korean firm E-Land plans to open more than 700 Coffee Bean & Tea Leaf stores in China, according to Nation's Restaurant News.
• The expansion will place it in closer competition with Starbucks (NASDAQ:SBUX) in the region. Earlier this year, Starbucks said it planned to have 3.4K stores open in China within five years.
• The first Coffee & Bean outlet in China is scheduled to open in Q4.