Starbucks has been roasting and selling Colombian-grown coffee for 43 years but hadn't had a location in the famed coffee capital until now.

The world's largest coffeemaker on Wednesday opened the doors to its Bogota location, the chain's first in Colombia, according to a Time report. Starbucks, for the first time, will be able to sell 100 percent locally grown coffee.

But it will also face stiff competition from other national chains, like Juan Valdez, a multinational company that also sells 100 percent Colombian coffee. Alejandra Londono, head of Juan Valdez's international sales, said, "There's room in the market for us both," according to the New York Daily News.

Starbucks CEO Howard Schultz told CNN Money that his company isn't trying to eliminate Juan Valdez, or any other of Colombia's coffee chains.

"I think we'll coexist with Juan Valdez," he said. "Our intent is not to overtake them but again to create a distinct experience, and I think we'll do that."

The Bogota location is far from the typical suburban store, indicating Starbucks' desire to impress in the market. It is three stories, complete with armchairs and elaborate wall art, according to Time.

The first store won't be alone for long, as Starbucks' expansion plan calls for 50 stores in Colombia within five years.

"It's a difficult market to crack because of the entrenched issue of Juan Valdez and we wanted to come here the right way," Schultz told CNN. "I think we need to come here with humility and respect. The success we've had around the world does not mean we are going to be successful here."

But the risk of entering Colombia is slightly mitigated for a company that has about 20,000 locations in 65 countries.

Starbucks is working with two other companies on the Colombian expansion, according to CNN: "Alsea, which runs about 520 Starbucks stores in Mexico, Argentina and Chile, and Colombian food company Grupo Nutresa."