Mexican franchiser Alsea announced on Monday the opening of the first Starbucks in Argentina as the chain expands in Latin America.

The store is located at the Alto Palermo shopping mall in Buenos Aires, Argentina's capital city.

Alsea partners with Starbucks in Mexico but the group also operates Burger King and Domino's Pizza stores in Mexico, Chile, Brazil and Argentina.

Alsea has already opened over 200 Starbucks stores in Mexico, Chile and Brazil.

Shares of Starbucks fell 0.67 percent in after hours electronic trading to $17.93 in Nasdaq today.