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Starbucks corporation
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- 2. History The firstStarbucks opened in Seattle, Washington, on March 31, 1971, by three partners who met while they were students at the University of San Francisco: English teacher Jerry Baldwin, history teacher Zev Siegl, and writer Gordon Bowker were inspired to sell high-quality coffee beans and equipment by coffee roasting entrepreneur Alfred Peet after he taught them his style of roasting beans. The company took the name of the chief mate in the book Moby-Dick: Starbuck, after considering "Cargo House" and "Pequod". Bowker recalls that Terry Heckler, with whom Bowker owned an advertising agency, thought words beginning with "st" were powerful. The founders brainstormed a list of words beginning with "st". Someone pulled out an old mining map of the Cascade Range and saw a mining town named "Starbo", which immediately put Bowker in mind of the character "Starbuck". Bowker said, "Moby-Dick didn't have anything to do with Starbucks directly; it was only coincidental that the sound seemed to make sense."
- 3. Expansion to newmarkets and products The first Starbucks location outside North America opened in Tokyo, Japan, in 1996. Starbucks entered the U.K. market in 1998 with the $83 million USD acquisition of the then 56-outlet, UK-based Seattle Coffee Company, re-branding all the stores as Starbucks. In September 2002, Starbucks opened its first store in Latin America, at Mexico City. Currently, there are over 500 locations in Mexico and there are plans for the opening of up to 850 by 2018. In 1999, Starbucks experimented with eateries in the San Francisco Bay area through a restaurant chain called Circadia. These restaurants were soon "outed" as Starbucks establishments and converted to Starbucks cafes. In October 2002, Starbucks established a coffee trading company in Lausanne, Switzerland to handle purchases of green coffee. All other coffee-related business continued to be managed from Seattle.
- 4. PRODUCTS In 1994,Starbucks bought The Coffee Connection, gaining the rights to use, make, market, and sell the "Frappuccino" beverage. The beverage was introduced under the Starbucks name in 1995 and as of 2012, Starbucks had annual Frappuccino's sales of over $2 billion. The company began a "skinny" line of drinks in 2008, offering lower-calorie and sugar-free versions of the company's offered drinks that use skim milk, and can be sweetened by a choice of "natural" sweeteners (such as raw sugar, agave syrup, or honey), artificial sweeteners (such as Sweets' Low, Splenda, Equal), or one of the company's sugar-free syrup flavors. Starbucks introduced a new line of instant coffee packets, called VIA "Ready Brew", in March 2009. It was first unveiled in New York City with subsequent testing of the product also in Seattle, Chicago, and London
- 5. TEA Starbucks enteredthe tea business in 1999 when it acquired the Tazo brand for US$8,100,000. In late 2012, Starbucks paid US$620 million to buy Teavana. As of November 2012, there is no intention of marketing Starbucks' products in Teavana stores, though the acquisition will allow the expansion of Teavana beyond its current main footprint in shopping malls. In January 2015, Starbucks began to roll out Teavana teas into Starbucks stores, both in to-go beverage and retail formats.
- 6. LIMITED EDITIONS Limited editionsof a product contributed to refresh the brand image through innovation and customer loyalty while offering a new option to consumers. The new Starbucks drink showed a packaging inspired by the popularity of food on the Internet with the theme of unicorns and christened it 'Frappuccino Unicorn’. Under the concept of 'nightlife' J & B launched its limited-edition packaging 'Crazy Colors'.