About
Starbucks Corporation, known as Starbucks is a multinational roastery reserve and coffeehouse chain. It was founded by Gordon Bowker, Zev Siegl, and Jerry Baldwin on 30 March 1971 in Seattle, at the Pike’s Place Market. It all started with retailing and roasting coffee beans, ground coffee, spices, and tea from the store located in Pike’s Market place but today connected to more than 80 markets globally. Starbucks has its headquarter in Seattle at 2401 Utah Avenue South. The name was derived from “Moby-Dick”– Herman Melville’s first mate. It is the sea from which the logo of Starbucks is inspired and it even has the Greek Mythologies twin-tailed siren. Starbucks’ mission is, “to inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time.” The company believes in creating opportunities, strengthening communities, and leading in sustainability.
Starbucks’ Years of Progress
The first store of Starbucks opened in 1971 in Seattle’s Pike Place Market. Howard Schultz in 1982 became the retail operations and marketing director and in the same year, the company started providing espresso bars and fine restaurants with coffee. In 1983, while in Italy, Howard Schultz was impressed with the espresso bars popularity in Milan and wanted to come up with a similar concept back in Seattle. The very next year he convinced the Starbucks founders for testing the concept of a coffeehouse in downtown Seattle, where the first Starbucks® Caffè Latte was served.
It is this experiment that leads to the Starbucks genesis of success in 1985. In 1987, Il Giornale acquired Starbucks assets with the local investor’s supports and changed the firm’s name to Starbucks Corporation. The same year, their first store was opened outside Vancouver, i.e in Chicago. Starbucks started providing its full and part-time workers with health benefits and domestic partnership coverage. By this year, the firm already had 33 stores. It expanded its headquarter in Seattle in 1990 and even unveiled its mission: “To establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles as we grow.”
Starbucks opened the first licensed airport store at Seattle’s Sea-Tac International Airport in 1991. In 1993, it opened a roasting plant in Kent and the next year the first drive-thru location was integrated. It opened the first LEED®-certified store in Hillsboro, a roasting facility in York, announced the second two-for-one stock split, debuted its first album,” Blue Note Blend” and began serving Frappuccino blended beverages in 1995. The first store outside of North America was opened in 1996 in Japan and Singapore. By this year, it already had 1015 stores. The Starbucks Foundation was established in 1997 and in 1998 the company extended the Starbucks brand into grocery channels across the United States. Starbucks.com was also launched in 1998 along with the establishment of the CUP Fund emergency financial assistance fund for partners. The third two-for-one stock split was announced in 1999 and for promoting practices for sustainable coffee-growing, it partnered with Conservation International.
In 2001, the SCTC was established in Lausanne, Switzerland, and also Wi-Fi in stores was launched. It acquired Seattle Coffee company along with which it got the ownership of Seattle’s Best Coffee® and Torrefazione Italia® coffee in 2003. It even opened a roasting facility in Amsterdam and Carson Valley. In 2004 in San Jose, Costa Rica, Starbucks opened the first center for farmers’ support and also introduced Starbucks Coffee Master Program. Ethos Water was acquired by Starbucks and the fifth two-for-one stock split was announced in 2005. Chairman Howard Schultz returned as CEO and began transforming the company in 2008. Along with Coffee Equipment Company, Schultz initiated the acquisition of its Clover® brewing system. The mission statement changed to “To inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time.” Starbucks established a social media presence, launching Starbucks ‘ first online community, My Starbucks Idea, and even joined Twitter and debuted Starbucks ‘ Facebook page.
In 2009, Starbucks VIA® Instant was launched, A farmer support center was opened in Kigali, My Starbucks Rewards® loyalty program, and the first iPhone® app with Starbucks Card mobile payment was launched. Evolution fresh was acquired by the firm in 2011 and the Farmer Support Center was opened in Mbeya, Tanzania. The very next year Starbucks® Blonde Roast was introduced, Farmer Support Centers in Manizales, Colombia, and Yunnan, China was opened and acquired Teavana. In 2013, Evolution Fresh® juicer in Rancho Cucamonga, and San Antonio as well as Lakewood the First military family stores were opened. An on-site center for training and store was opened in N.Y(Queens) and Ferguson.
In 2016, it even launched Starbucks® FoodShare, a program to donate ready-to-eat meals to food banks across the United States. Commits to new environmental goals: Phasing out disposable plastic straws by 2020 and operating 10,000 ‘Greener Stores’ globally by 2025 was the new goal to which Starbuck sworn by in 2018. The same year it opened Starbucks Reserve® Roastery locations in Milan and New York and reached 100 percent pay equity for partners of all genders and people of all races performing similar work in the U.S. Even Starbucks and Nestlé form Global Coffee Alliance in 2018 and Schultz retired to become chairman emeritus. By 2019, it already had 31,795 stores globally. It opened Starbucks Reserve® Roastery locations in Tokyo and Chicago. The goal of hiring 25,000 veterans and military spouses was reached six years in advance and after that, the company committed to hiring around 5000 people every year.
In 2020, Starbucks:
- Announced new sustainability aspiration to become resource positive, “Giving more than we take from the planet.”
- Transformed mental health benefits, including new resources for U.S. partners.
- Introduced strawless lids for iced beverages in stores in the U.S. and Canada.
- Had 32,660 stores.
Starbucks Coffee
The company believes in serving coffee that is as finest as possible. They use ethical sourcing practices while growing the coffee under the standard that maintains high quality. To select the best Arabic beans, their coffee buyers travel to coffee farms in Asia, Africa, and Latin America. The signature roast of Starbucks is used by the master roasters for bringing the rich and balanced flavor from the coffee.
Stores & Locations
Starbucks opened its stores keeping in mind that it should be a gathering place in the neighborhood for meeting relatives and friends. The company has its Immersive Starbucks reserve roastery in Tokyo, Shanghai, Seattle, New York, Milan, and Chicago. Apart from that, it has above 30,000 stores globally in Vietnam, Uruguay, United States, United Kingdom, United Arab Emirates, Turkey, Turks and Caicos, Trinidad and Tobago, Thailand, Taiwan, Switzerland, Sweden, Spain, South Korea, India, South Africa, Slovakia, Singapore, Serbia, Saudi Arabia, Russia, Romania, Qatar, Puerto Rico, Portugal, Poland, Philippines, Peru, Panama, Oman, Norway, New Zealand, Netherland, Morocco, Monaco, Mexico, Malta, Malaysia, Luxembourg, Lebanon, Kuwait, Kazakhstan, Jordan, Jamaica, Japan, Italy, Ireland, Indonesia, Hungary, Macau/Hongkong, Guatemala, Greece, Germany, France, Finland, El Salvador, Egypt, Dominican Republic, Denmark, Czech Republic, Cyprus, Curacao, Costa Rica, Colombia, China, Chile, Cayman Islands, Canada, Cambodia, Bulgaria, Brunei, Brazil, Bolivia, Belgium, Bahrain, Bahamas, Azerbaijan, Austria, Australia, Aruba, Argentina, and Andorra.
Starbucks Products
A range of exceptional products is provided by Starbucks to its customers to enjoy on the go, at home, and in stores. These products include:
1. Coffee
- Single-origin premium and over 30 blends of coffee
2. Handcrafted Beverages
- Starbucks Refreshers® Beverages
- Frappuccino® Blended Beverages
- Starbucks® Cold Brew
- Teas
- Iced And Hot Espresso Beverages
- Fresh-Brewed Coffee
3. Fresh Food
4. Consumer Products
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Coffee and Tea
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- Teavana® Verismo® Starbucks® Pods
- Starbucks® By Nespresso
- Starbucks® Coffee K-Cup®
- Starbucks VIA® Instant
- Ground Coffee (Seattle’s Best Coffee Brand And Starbucks)
- Whole Bean (Seattle’s Best Coffee Brand And Starbucks)
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Ready-to-drink (RTD)
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- Teavana® craft Iced Teas
- Evolution Fresh™ Bottled Juices
- Starbucks Refreshers® Beverages
- Starbucks® Bottled Cold Brew
- Starbucks Doubleshot® Energy Coffee Drinks
- Starbucks Doubleshot® Espresso Drinks
- Starbucks Iced Coffee
- Starbucks Discoveries Iced Café Favorites®
- Starbucks Discoveries® Chilled Cup Coffees
- Starbucks® Bottled Frappuccino® Coffee Drinks
Starbucks Subsidiaries
- Tata Starbucks (India)
- Torrefazione Italia
- Teavana
- Ethos Water
- Starbucks Coffee
- Hear Music
- La Boulange Bakery
- Evolution Fresh
- Seattle’s Best Coffee
Investors Information
- On 26 June 1992, Starbuck Corporation went public for USD 17 per share and the closing of the first day was USD 21.50 per share.
- On 4 November 1985 in Olympia, under the State of Washington Law, Starbucks was incorporated.
- The common stock of Starbucks Corporation is listed as SBUX on NASDAQ.
Finances
