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    Starbucks was founded in 1971 in Seattle, Washington by three men who opened the first store at 2000 Western Avenue, selling roasted whole bean coffee. In 1987, Howard Schultz took over the company and expanded it rapidly, growing to over 135 stores by 1992. Today, Starbucks has over 32,600 stores globally. In the late 2000s, Starbucks faced a crisis as saturation and loss of uniqueness led to declining sales. Howard Schultz returned as CEO in 2008 and refocused the company on its core coffee expertise and culture, closing underperforming stores and retraining employees. This led to Starbucks' successful recovery.

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    Starbucks was founded in 1971 in Seattle, Washington by three men who opened the first store at 2000 Western Avenue, selling roasted whole bean coffee. In 1987, Howard Schultz took over the company and expanded it rapidly, growing to over 135 stores by 1992. Today, Starbucks has over 32,600 stores globally. In the late 2000s, Starbucks faced a crisis as saturation and loss of uniqueness led to declining sales. Howard Schultz returned as CEO in 2008 and refocused the company on its core coffee expertise and culture, closing underperforming stores and retraining employees. This led to Starbucks' successful recovery.

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    57 views6 pages

    Starbucks

    Uploaded by

    SoUmYa HeGdE
    Starbucks was founded in 1971 in Seattle, Washington by three men who opened the first store at 2000 Western Avenue, selling roasted whole bean coffee. In 1987, Howard Schultz took over the company and expanded it rapidly, growing to over 135 stores by 1992. Today, Starbucks has over 32,600 stores globally. In the late 2000s, Starbucks faced a crisis as saturation and loss of uniqueness led to declining sales. Howard Schultz returned as CEO in 2008 and refocused the company on its core coffee expertise and culture, closing underperforming stores and retraining employees. This led to Starbucks' successful recovery.

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    © All Rights Reserved
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    of 6

    STARBUCKS

     The store was opened by 3 men: Jerry Baldwin,


    Zev Siegl and Gordon Browker
     The first Starbucks store was opened in March
    30, 1971 in Seattle, Washington. 
     Their first store was located at 2000 Western
    Avenue and it sold roasted whole bean coffee.
     They shifted their store to 1912 Pike Place
    Market where they began selling espresso coffee
    in 1986.

     In 1987 Howard Schultz took the opportunity to buy the company from the original owners

     By 1992, Starbucks had more than 135 outlets and was earning yearly revenues of up to $72 million.

     Starbucks has 32,600 coffeehouse chain stores in 83 countries around the world.
     Product categories in which Starbucks deals are:

    Starbucks is a brand that is renowned for its premium quality coffee. It offers more than 1000 varieties of food
    items including coffee, smoothies, cookie, tea, muffins, pastries, doughnuts, fresh fruit juice, blended beverages
    and much more.
    1.Coffee
    2.Tea
    3.Baked Goods
    4.Frappuccino
    5.Smoothies
    6.Starbucks Merchandise (Mugs, Instant coffee etc)
    7.Other food items and beverages.
    THE DAY STARBUCKS BRAND ALMOST COLLAPSED

    “People didn’t feel special going to a Starbucks any more. Saturation, increased competition, loss of touch with
    the consumer and automated machines made it feel less special as well,” said Singapore Management University
    assistant professor of strategic management Anne-Valerie Ohlsson-Corboz.
    RETURN OF THE COFFEE KING
    With the company facing a crisis, Mr Schultz returned in 2008. “We were drifting a bit towards mediocrity and
    kind of losing our voice. I needed to come back,” he said.
    • Closure of 600 stores
    • Threw off all automatic machines
    • Started training to employees – Art of Espresso
    • Action oriented culture –
    “We are not in the coffee business serving people,we are in people business serving coffee”
    • Leadership conferece at New Orleans-
    • MyStarbucksIdea.com

    Entrepreneurial lessons from STARBUCKS


    Do not be obsessed with growth
    Stick to the core values
    REFERENCES
    1. https://www.channelnewsasia.com/cnainsider/starbucks
    2. https://beloved-brands.com/starbucks

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