Starbucks has become the largest retail coffeehouse chain in the world. Starbucks Corporation is the leading retailer and marketer of specialty coffee in the world.
Starbucks was the first coffee chain to realise the profits will not come from selling coffee beans but selling espressos in a cup. Now, its operations include approximately 5700 coffee shops and kiosks present in 70 countries.
Frappucinos, the famous of blended coffees of Starbucks was bought from a company- The Coffee Connection gaining them the rights to make it. Starbucks has gained popularity as creating an experience for its customers rather than just selling coffee. They offer various facilities from free Wifi to Loyalty Card Program. In 1992, Starbucks went public and then there was no looking back. It opened its first international venture with the help of SAZABY Inc., a Japanese retailer in the markets of Japan, Singapore and Hawai. Starbucks believed that when people go to their job, they want two things- coffee and people to talk to. Taking this as a premise they built this famous coffee place so that people can experience their coffee. It gained momentum in both the domestic and international markets such that it is now the most loved coffee brand in the world.
Jerry Baldwin, Gordon Bowker and Zev Siegl got the idea from Alfred Peet to start their own coffee chain which was primarily into business of selling coffee beans and coffee making equipment in Seattle, Washington, which is also known as an haven for coffee lovers in 1971. They got the name Starbucks after the chief mate on the Pequod, Starbuck. The three owner sold the company to Howard Schultz in 1987 after which Howard Schultz took Starbucks to new heights of success. It was also first US private company to offer stock options to their employees.