Starbucks is an international coffeehouse chain that was founded in 1971 at Seattle’s Pike Place Market and quickly expanded after the coffeeshop was sold to former CEO Howard Schultz in the early 1980s.
Today, the company is headed by CEO Kevin Johnson and has more than 15,000 locations in the U.S., and almost double that number in more than 70 countries globally. Starbucks has become known as the foremost leader of the second-wave coffee movement, inspired in large part by leisurely coffee culture in Italy. Drinks like the Frappuccino and Pumpkin Spice Latte have since made their way into the public lexicon as universally recognized aspects of coffee culture.
In recent years, Starbucks has doubled down on its investment in digital technology and inclusive culture, with the company committing to a workforce of 30% BIPOC by 2025 in October 2020.
On the digital front, Starbucks has been investing more in technology based on customer convenience needs. In April 2019, Starbucks revamped their loyalty program with a tiered rewards structure, and in July 2019, the company launched delivery nationally.
Most recently, Starbucks began to pivot toward smaller store footprints that focus on drive-thru, and new mobile and pickup-focused stores, closing 400 stores in 2020 to make way for new store formats in their portfolio.
Key data: Starbucks
Segment: LSR Coffee
Number of U.S. locations: 15,337
2020 sales: $18,717,982
CEO: Kevin Johnson