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The economic problems associated with the epidemiological situation in the world in the past year have affected almost all large international corporations, which had to adapt to fundamental changes. They also touched upon the Starbucks company, which specializes in the sale of high-grade roasted coffee and has been on the market for almost fifty years - since 1971.
How it all began
The firm was founded in Seattle, a large seaport in Washington state, by three friends who met during their student days. Coffee drinkers - historian Zev Siegl, writer Gordon Bowker and English teacher Jerry Baldwin - have made their favorite occupation a professional and have achieved success in business.
They invested $ 1,350 in personal funds and $ 5,000 in loans to open their own business. They were inspired by the idea of selling elite coffee beans, the merchant Alfred Peet shared with them a unique way of roasting them. Guided only by creative ideas, without any financial concept, they created a company that became known all over the world thanks to the opportunity for anyone to buy high quality coffee.
The birth of the logo
The name of the store was given by the name of one of the heroes of the popular novel about sea adventures - the senior mate of Captain Starback. The company's logo reinforced the nautical theme with a semi-nude siren with two tails in brown, based on an old engraving. Over time, the trademark that became famous underwent changes: after 16 years, the colors acquired green shades, stars appeared on the logo, and since 1992 only the upper part of the mermaid has remained on the emblem. Already in 2011, after removing the stars from it, the logo became lighter and more expressive.
New leadership
10 years after the opening of the first outlet, 5 stores and a small factory for special roasting of grains were already functioning, the products of which were in demand by the surrounding bars and cafes. During the first year of its existence, the Starbucks coffee trading company bought raw materials from Peet's Coffee, which was owned by A. Peet, and then switched to direct farm supplies. In 1987, the management of the company was transferred to Howard Schultz, who previously headed the marketing department.
After merging with his chain of coffee shops, the new owner changed the brand name of the firm to Starbucks Corporation and intensively expanded the business. At the same time, the first specialty stores appeared in Chicago and Vancouver, Canada, and in 1988 a mail-order sale of beans was organized: now you could buy coffee using printed catalogs.
By 1992, the company, which first placed its shares on the stock exchange, already had more than one and a half hundred stores, and its annual profit for 5 years increased from 1.3 million to 73.5 million dollars. The company itself was valued at more than $ 270 million at that time. Due to the sale of securities and the resulting $ 25 million in income, the number of outlets doubled, the value of shares increased a hundredfold, and profits on them rose by 70%.
Successful development
Now Starbucks Corporation is considered the world's largest coffee company, owning almost 23 thousand retail outlets in more than 60 countries. In addition to roasted beans, they offer espresso, as well as other hot and cold drinks, sandwiches, desserts, containers and coffee equipment. In recent years, the company has acquired the status of an American symbol at the level of the famous McDonald’s.
In the 90s of the twentieth century, the Starbucks coffee company opened new coffee shops every day, this pace has been maintained for a whole decade. In 1996, the first store was opened in Tokyo, and in 1998 - 56 outlets in the UK. 2002 saw the emergence of branded convenience stores in Mexico. Now there are more than 250 retail outlets, 100 of which are located in Mexico City.
The positive image of the company was created by an environmental program to provide everyone with used coffee grounds as fertilizers for the garden. In 2008, Starbucks was named one of the top US environmental companies. At this time, the opening of stores continued in Brazil, Argentina, Bulgaria, Czech Republic, Portugal.
In 2013, the company organized sales of its products using modern technologies - through mobile platforms and the Twitter application, registration in which gave customers the right to receive a $ 5 bonus card for a friend. Thanks to this promotion, 27 thousand customers were attracted, who bought coffee for 180 thousand dollars.
The total revenue of the company in September 2020 amounted to $ 6203.1 million, net profit - $ 392.6 million.
