Starbucks

Starbucks Corporation is an American multinational chain of coffeehouses and roastery reserves headquartered in Seattle, Washington. because the largest coffeehouse within the world, Starbucks is seen to be the most representation of the United States' second wave of coffee culture.[5][6] Since the 2000s, third wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee supported lighter roasts, while Starbucks nowadays uses automatic espresso machines for efficiency. the corporate operates 30,000 locations worldwide in over 77 countries, as of early 2020. Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee referred to as VIA, espresso, espresso, full- and loose-leaf teas including Teavana tea products, Evolution Fresh juices, Frappuccino beverages, La Boulange pastries, and snacks including items like chips and crackers; some offerings (including their annual fall launch of the Pumpkin Spice Latte) are seasonal or specific to the locality of the shop.

Starbucks Corporation
Starbucks Corporation Logo 2011.svg
Logo used since 2011
Starbuckscenter.jpg
Starbucks headquarters at Starbucks Center in Seattle, Washington, U.S.
Type
Public
Traded as
NASDAQ: SBUX
NASDAQ-100 Component
S&P 100 Component
S&P 500 Component
ISIN
US8552441094 Edit this on Wikidata
Industry
Coffee shop
Founded
March 31, 1971; 49 years ago
Pike Place Market, Elliott Bay, Seattle, Washington, U.S.
Founders
Jerry Baldwin
Zev Siegl
Gordon Bowker
Headquarters
2401 Utah Avenue South, Seattle, Washington, U.S.
Number of locations
28,218 (2018)
Area served
Worldwide
Key people
Howard Schultz (chairman​ emeritus)
Myron E. Ullman (chairman)
Mellody Hobson (vice​ chairman)
Kevin Johnson (president​ and CEO)
Products
Coffee beverages smoothies tea food sandwiches
Revenue
Increase US$24.71 billion (2018)
Operating income
Decrease US$3.88 billion (2018)
Net income
Increase US$4.51 billion (2018)
Total assets
Increase US$24.15 billion (2018)
Total equity
Decrease US$1.16 billion (2018)
Number of employees
291,000 (2018)
Subsidiaries
Starbucks Coffee Company Ethos Water Evolution Fresh Hear Music La Boulange Bakery Seattle's Best Coffee Teavana Torrefazione Italia
Website
starbucks.com
Footnotes / references
[1][2][3][4]
Headquartered within the Starbucks Center, the corporate was founded in 1971 by Jerry Baldwin, Zev Siegl, and Gordon Bowker within the Pike Place Market. During the first 1980s, they sold the corporate to Howard Schultz who – after a business trip to Milan, Italy – decided to create the seed store a coffeeshop serving espresso-based drinks. Schultz first tenure as chief executive, from 1986 to 2000, led to an aggressive expansion of the franchise, first in Seattle, then across the geographical area. Despite an initial economic downturn with its expansion into the Midwest and British Columbia, the corporate experienced revitalized prosperity with its entry into California within the early 1990s through a series of highly-publicized coffee wars. Schultz was succeeded by Orin Smith who ran the corporate for five years, positioning Starbucks as an outsized player in fair trade coffee and grew sales to $5 billion. Jim Donald, served as chief executive from 2005 to 2008, orchestrating a large-scale earnings expansion. Schultz returned as CEO within the middle of the 2008 financial crisis and spent the succeeding decade growing its market share, expanding its offerings, and reorienting itself around corporate social responsibility. Kevin Johnson took over from Schultz in 2017, and continues to function the firm's chief company value.

Contents
History

Interior of the Pike Place Market location in 1977
Founding
The first Starbucks was opened in Seattle, Washington, on March 31, 1971,[7] by three partners who met while they were students at the University of San Francisco:[8] instructor 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 kind of roasting beans.[9] Bowker recalls that Terry Heckler, with whom Bowker owned an agency, thought words beginning with "st" were powerful. The founders brainstormed an inventory of words beginning with "st," and eventually landed on "Starbo," a mining town within the chain of mountains. From there, the group remembered "Starbuck," the name of the chief mate within the book Moby-Dick.[10] Bowker said, "Moby-Dick did not have anything to try and do with Starbucks directly; it absolutely was only coincidental that the sound perceived to add up."[10][11]

The first Starbucks store was located in Seattle at 2000 Western Avenue from 1971–1976. This cafe was later moved to 1912 Pike Place.[12] During now, the corporate only sold roasted whole coffee beans and failed to yet brew coffee to sell.[13] During their first year of operation, they purchased green coffee beans from Peet's,[14] then began buying directly from growers.[citation needed]

Sale and expansion

A Chinese-style Starbucks in Chinatown, Manhattan, New York, 2017
In 1984, the first owners of Starbucks, led by Jerry Baldwin, purchased Peet's.[15] During the 1980s, total sales of coffee within the US were falling, but sales of specialty coffee increased, forming 10% of the market in1989.m