The latest addition to the Starbucks family is a hit with customers and the media alike. While the coffee giant has been expanding its product line into different areas, most people know it for its delicious specialty coffee. But did you know that there was once a time when Starbucks only sold coffee, and it was actually a very small coffee company? Through this article, we will discuss the interesting history of Starbucks and how they got into the coffee business in the first place.
Quick Launch
Starbucks was founded in 1971 when three Seattle businessmen got together to start a coffee shop. They named the shop ‘Starbucks’ after the company that they thought the coffee shop looked like, which was ‘Speedway’ (named after the Indianapolis 500 race). The company originally only sold espresso machines and a small amount of coffee. By 1977, Starbucks had expanded and opened its first international store in London. Since then, the coffee giant took the world by storm.
Bold Move
In 1977, Starbucks made what was at the time, one of the most ambitious business moves in corporate history. They decided that instead of continuing to grow their company through more international stores, they would take their business global by establishing coffee bars in airports. This was a risky move, but it paid off. Between 1977 and 1985, Starbucks opened more than 30 coffee bars in major US, European, and Canadian airports. This move established Starbucks as a brand name, giving the company an identity consumers could associate with coffee in general.
Moving Forward
In 1985, Starbucks discontinued its airport project, but it didn’t stop there. The company continued to grow, and by 2014, it had more than 40,000 employees and annual sales of $16 billion. In that year alone, Starbucks bought a 100-acre coffee plantation in Guatemala to meet the growing demand for its coffee. The company also bought coffee brands such as Blue Ribbon, which brought with it a new line of Starbucks-branded products. In fact, Starbucks has been heavily investing in the organic coffee market, purchasing brands such as Morningstar, which is renowned for its certified organic coffees.
Starbucks is among the world’s most popular and recognizable brands. The company is known for making high-quality coffee that is both affordable and accessible to anyone. What’s not to love?