*Revised for correction in store name.

NEW YORK (TheStreet) -- Starbucks (SBUX) - Get Report  founder and CEO Howard Schultz has an answer for many Americans who think the country has enough retail coffee stores: add even more, just under a slightly different name.

The new store, called Starbucks Reserve Roastery and Tasting Room, is meant to be an upscale version of your neighborhood Starbucks. It's part of Starbucks' larger plan to open upscale cafes, excluding a roastery, called Reserve in over 100 locations globally in the next five years.

There is no green and white mermaid logo on the Reserve stores. The building has rich, brown hues and there's a big beige star and the letter "R" on the outside.

The first Starbucks Reserve Roastery and Tasting Room opens Friday on Pike Street in Seattle, a couple blocks from the company's first retail store -- and it's 15,000 square feet. That's as big as a supermarket.

"What we're doing is building a new brand inside Starbucks," the typically over-caffeinated Schultz said at Starbucks' biennial analyst and investor event on Thursday.

Launching a new brand in a saturated market is a risky move, even for Starbucks. But Schultz is considered a retail pioneer who has proved critics wrong before.

He built Starbucks from a single store in Seattle in 1971 to over 21,000 stores globally today. At the same time, Starbucks has amassed a significant digital presence through its mobile app, with 12 million active users. That's the envy of a competitor like McDonald's (MCD) - Get Report .

Even so, Starbucks' same-store sales growth in its Americas division has been slowing, underscoring the need to attract coffee drinkers willing to pay even more for a latte or frappuccino. According to Bloomberg data, same-store sales for U.S. Starbucks increased 5%, compared with 8% a year ago.

The coffee, in dark packaging from the Reserve brand, is also being added to more Starbucks locations. By the end of 2015, many Starbucks will feature the premium coffee near the checkout or in the merchandise displays.