Starbucks focuses on growth
Howard Schultz, Starbucks Chief Executive Officer is working to shift the company’s strategy, through enhancing its Seattle’s Best Coffee banner as well as expanding the distribution of its Via instant coffee range. The chain has partnered with Acosta Sales and Marketing to bring Via Ready Brew to convenience, grocery and drug stores next year as it seeks a portion of the USD21 billion soluble coffee markets. This move follows a series of cost cuts and new product promotions.
Schultz said: “The future of the company is not based on cost takeouts. It’s based on innovation and the emotional connection and trust we have with our customers.” Speaking about Seattle’s Best Coffee, Schultz added: “Seattle’s Best has a very bright future and it can do things that Starbucks cannot. We want to unleash Seattle’s Best to do that.”
As of September, Starbucks had 16,635 outlets globally, with two-thirds in the home market, the US. The company is planning to open 300 new outlets in the next fiscal year.
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