Starbucks Coffee Company
Starbucks Coffee Company was founded in 1971 by three businessmen in Seattle, Washington, the love for coffee and tea. It was important to them that the city of Seattle have access their coffee.
The Starbucks Coffee Company grew slowly but by 1981 4 retail stores and a roasting plant, had sold only coffee beans in Seattle.
By 1983, the marketing manager had a vision of the newly-create the magic behind the ItalianCoffee bar and wanted to test the concept of selling coffee by the cup. When Starbucks Coffee Shop of the 6th opened in downtown Seattle, had the idea to become a hit. Within 2 months the new store served about 700 customers per day and it was selling 3 times more than the whole bean plants.
In 1987 the owner decided to sell the Starbucks Coffee Company to their coffee business along with the name of a group of local investors for $ 3.7Million.
The new investors were told that they would open 125 Starbucks coffee shops in the next five years. Starting from a base of 17 branches in 1987, the company expanded rapidly to Vancouver, Portland and Chicago.
From 1991, Starbucks had in the mail-order catalog business, licensed airport stores and further expanded in the state of California extended.
In 1992 the company went public and after the IPO, Starbucks continues to growphenomenal pace that no one ever saw in the coffee world. Until 1997, the number of Starbucks coffee shops has increased tenfold, with locations in the U.S., Japan and Singapore.
Starbucks initiated several successful product and brand extensions including offering coffee on United Airlines flights. Moreover, began selling premium teas through its Tazo Tea Company and offering people the opportunity to buy Starbucks coffee online to enjoyHome.
They began distributing whole bean and ground coffee to supermarkets through an agreement with Kraft Foods. They also made premium coffee ice cream with Dreyer's. Starbucks even sold CDs in its stores.
Starbucks began turning its name into a household word not through advertising but through word of mouth. In fiscal 2004, Starbucks opened a record 1344 stores worldwide. The once small regional roaster, Starbucks Coffee Company has todaymore than 9,000 locations in 34 countries and serving more than 20 million customers per week.
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