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Jaswanth Jegan

Stealth • 5m

“How Starbucks CEO saved the company ” Bankruptcy To Billions #8 Starbucks was founded by Jerry Baldwin, Zev Siegl, and Gordon Bowker, initially selling high-quality coffee beans.In 1987 Schultz purchased Starbucks and expanded agressively in USA. In 1992 Starbucks went public which further fueled its expansion then Starbucks became a global coffee powerhouse because of its high-quality coffee and a premium customer experience. In 2002 because of overexpansion Starbucks stores faced canibilization and increased operational effeciency and 2008 financial crisis affect its sales and profitability is declined. Schultz returned as CEO and initiated Closing underperforming stores,Reinvesting in employee training,Innovating with new products and store designs.And diversified their products beyond Coffee including tea, juice, and premium bakery items. Today Starbucks remains a global leader in the coffee industry with a strong brand presence around the world.

6 replies13 likes

Replies (6)

Anonymous 1

Stealth • 5m

Overexpansion is the death of so many companies. Glad Schultz recognized it and had the guts to close underperforming stores. Sometimes you gotta cut to grow.

2 replies3 likes

LIKHITH

Stealth • 5m

Hero he is !

1 replies1 like

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