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Starbucks

Starbucks is a global coffee company founded in 1971 in Seattle, Washington, as a roaster and retailer of whole bean and ground coffee, tea and spices. Today it is the largest coffeehouse company in the world. Starbucks Corporation's common stock is listed on NASDAQ, under the trading symbol SBUX.

Chairman / President

Mellody Hobson

CEO / Managing Director

Laxman Narasimhan

CFO / Finance Director

Brian Niccol

Industry

Coffee shop

Website

starbucks.com

Headquarters address

2401 Utah Avenue South, Seattle, Washington, U.S.

Stock Code

NASDAQ:SBUX

Year founded

1971

last updated:

30 September, 2024

Starbucks currently operates more than 7,600 stores on the mainland. Photo: Yaling Jiang

China economy

Starbucks hires chief growth officer in China to fight off Luckin Coffee

Tony Yang will focus on attracting young coffee drinkers via tie-ups with entertainment franchises and pop culture icons.

16 Dec 2024 - 4:49PM

North Korea

Starbucks cafe with views of North Korea

3 Dec 2024 - 1:48PM

US-China relations

My Take | Apple, Tesla and Starbucks to face testing time in China under second Trump administration

26 Nov 2024 - 7:00AM

Retailing

Is Starbucks seeking help from a partner to regain its perk in China?

Starbucks is ‘working to find the best path to growth, which includes exploring strategic partnerships’, according to a statement.

22 Nov 2024 - 11:33AM

A queue at a Starbucks cafe in Kunming city, in Yunnan province on 28 April 2011. Photo: ImagineChina.

Malaysia

Chinese milk tea giant Chagee stirs ire of Malaysians over ‘rigged’ lucky draw

A TikTok video appears to show company staff tampering with a Chagee lucky draw involving luxury handbags and Apple products.

20 Nov 2024 - 5:43PMvideocam

Malaysia

Starbucks Malaysia confronts long-term sales decline from anti-Israel boycott

Malaysia’s largest bank has warned that the brand is likely to suffer from long-term slumping sales, despite a booming coffee market.

18 Nov 2024 - 12:14PM

South Korea

Starbucks serves up glimpses into North Korea with new café near the border

A new branch of the coffee shop chain will offer patrons rare glimpses across the North Korean frontier from Gimpo’s Jogang Observatory.

3 Dec 2024 - 1:52PMvideocam

Fashion

Meet Valentina Sampaio, the trans model making history with Victoria’s Secret

The Brazilian model was studying fashion design when she was discovered by a make-up artist; she’s made a career of history-making appearances and is a staunch advocate of LGBT rights.

1 Nov 2024 - 6:00PM

Food and Drinks

Asian-American brand backs Simu Liu on boba tea, and gets to pitch to him

The co-founders of Twrl are invited to pitch to Simu Liu after supporting Marvel star for calling out cultural appropriation on Dragons’ Den.

24 Oct 2024 - 6:15PM

Malaysia

Echoes of Gaza: Malaysia, Indonesia, Thailand, Singapore confront legacy of war

From boycotts to artwork and activism, the Palestinian struggle has ignited passionate responses across Southeast Asia over the past year.

7 Oct 2024 - 8:00AMvideocam

A pro-Palestinian rally held in front of the Israeli embassy in Bangkok, Thailand, in April. Photo: AFP

Coffee

Starbucks’ new CEO vows to make cafes ‘inviting’ once again

In an open letter, Brian Niccol said Tuesday he wants to once again make the cafes “inviting places to linger” with a clear distinction between dine-in and to-go service.

11 Sep 2024 - 1:30PM

An employee prepares a drink at a Tata Starbucks Ltd. store in Mumbai on August 12, 2024. Photo: Bloomberg

Malaysia

Anti-Israel boycott in Malaysia costs Starbucks operator US$8.8 million

Berjaya Food reported a fourth quarter net loss of US$8.8 million due to Middle East conflict impacts, leading to a 35 per cent revenue drop and share decline.

28 Aug 2024 - 8:26PM

Indonesia

As KFC Indonesia logs US$21.5 million loss, a branch manager is ‘unsurprised’

Indonesians have also targeted Starbucks, McDonald’s and several clothing brands for boycott over their perceived links to Israel.

12 Aug 2024 - 3:42PMvideocam

Banking & finance

Starbucks loses its perk in China as drinkers flee for cheaper brews

‘Frankly, I don’t think Starbucks can gain a lot of traction in China’s small towns and villages,’ analyst says after the chain’s revenue slides.

11 Aug 2024 - 10:52AM

Shoppers walk by a Starbucks cafe at an outdoor shopping mall in Beijing on December 23, 2023. Photo: AP

China's economic recovery

No more keeping up with the Joneses: ‘poor man’s meal’ on the rise in China

An ongoing trend of consumer spending cutbacks in China has intensified amid an economic downturn, drawing comparison with Japan’s ‘lost decade’.

20 Jul 2024 - 8:21AMvideocam

China economy

Opinion | Luckin Coffee’s rise over Starbucks reflects changes brewing in China

Luckin’s meteoric rise reflects a market shift as Chinese spend more carefully, and increasingly prefer local brands with more efficient service to slower, more expensive foreign names.

26 May 2024 - 5:30AMvideocam

Malaysia

My Take | Is Malaysia ‘missing the target’ in anti-Israel boycotts of Western brands?

It is a consumer’s right to shun a global business, but it may end up missing the target as local franchise holders are the ones bearing losses.

10 May 2024 - 10:30AMvideocam

Malaysia

Kentucky fried closures: Malaysia’s anti-Israel boycott hits US chicken giant

The American chicken franchise, fast-food rival McDonald’s and US coffee chain Starbucks have all become targets of a nationwide boycott movement triggered by Israel’s war on Gaza.

1 May 2024 - 4:34PMvideocam

A commuter train displaying prominent KFC advertising in downtown Kuala Lumpur. The company that owns the KFC franchise in Malaysia said it had temporarily closed outlets “to manage increasing business costs and focus on high-engagement zones”. Photo: AFP

Indonesia

After McDonald’s, Asians boycott Western cosmetics brands with ties to Israel

In Indonesia, beauty brands owned by French cosmetics giant L’Oreal are being spurned in favour of Chinese and local alternatives, as the boycotts bite into the profits of Starbucks Malaysia and McDonald’s.

19 Apr 2024 - 11:27AM

China property

Lianjia opens Manner coffee shop in Shanghai outlet to brew up home transactions

Lianjia has teamed up with coffee chain operator Manner to open a cafe in one of its outlets in Shanghai, launching a crossover marketing campaign to drive transactions amid lack of homebuying interest.

11 Apr 2024 - 9:40PMvideocam

Malaysia

McDonald’s Malaysia drops lawsuit against pro-Palestinian boycott group

The Malaysian operator of the fast food giant had claimed the boycotters had slandered its business and implied it had profited from the assault on Palestinians and conspired with Israel

22 Mar 2024 - 2:58PM

Malaysia

McDonald’s franchisee, BDS Malaysia seek mediation over boycott movement

McDonald’s Malaysia claims BDS Malaysia slandered its business and implied it had profited from the assault on Palestinians and conspired with Israel.

18 Mar 2024 - 5:00PMvideocam

A McDonald’s restaurant in Putrajaya, Malaysia. Photo: EPA-EFE

South Korea

Netizens slam K-pop singer for drinking Starbucks coffee: ‘educate yourself’

Some commenters said the episode could haunt her for the rest of her career and urged Huh to apologise and take accountability for endorsing the brand.

18 Mar 2024 - 5:56PM

Malaysia

Malaysians mock Starbucks franchisee’s calls to end boycott over Israel-Gaza war

The US coffee chain’s local franchise, run by Malaysian tycoon Vincent Tan’s Berjaya Food, has seen its revenues plunge as customers stay away amid accusations its parent company supports Israel.

5 Mar 2024 - 11:46AM

Malaysia

Starbucks Malaysia ‘stands for humanity’ even as Israel boycott cuts revenue

Malaysia’s social media users mostly panned Starbucks Malaysia’s statement, with some saying that a neutral stance was as good as supporting Israel.

28 Feb 2024 - 6:10PMvideocam

A man reacts during a ‘Free Palestine’ rally near the US embassy in Kuala Lumpur, Malaysia, on December 22 last year. Businesses in Malaysia seen with links to the US and Israel, including Starbucks and McDonald’s, have been targeted by an extended boycott. Photo: EPA-EFE

South Korea

Starbucks Korea opens first animal-friendly store amid rise in pet-owning population

The outlet opened in Guri on Friday, with a cafe on the first floor and a pet one on the second floor, as pet-owning households now make up more than 25 per cent of the country’s homes.

7 Jan 2024 - 2:06PMvideocam

A dog wearing the ‘Cream Family Bag Set’ at Starbucks’ first pet-friendly outlet. Photo: Starbucks Korea

Coffee

Caffeine boost: China’s rising coffee demand spurs cutthroat cafe competition

China’s rapidly growing coffee consumption is spurring cutthroat competition between local and foreign chains, which are opening shops at breakneck speed, overtaking the number of outlets in the US.

29 Dec 2023 - 6:14PMvideocam

Business of climate change

‘World won’t hit climate goals without transforming farming’: nature charity

International efforts to reduce greenhouse gas emissions from the food sector are falling well below what is needed for the world to achieve its climate goals, according to the head of The Nature Conservancy.

8 Sep 2023 - 12:34AMvideocam

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