Prepared Foods August 23, 2005, enewsletter

Starbucks is talking with potential partners on creation of a joint venture in Russia.

The company, which has one outlet in Russia, currently has 8,500 retail outlets in more than 30 countries, Novosti reported.

Starbucks recently gained exclusive rights to use its own name in Russia, where another entity had been employing the "Starbucks" brand in its marketing.

With confirmed legal exclusivity to its brand name, Starbucks now wants to gain market share in Russia.

In 2004, Starbucks' worldwide sales exceeded $5 billion, and its profits were $391 million.