Starbucks creates a $100 million equity fund to invest in start-ups

Professional coffee knowledge exchange More coffee bean information Please pay attention to coffee workshop (Weixin Official Accounts cafe_style)

Starbucks CEO Kevin Johnson said in a statement today that Starbucks "may explore commercial relationships in businesses in which it invests."

As growth slows in key markets, Starbucks will spend $100 million on a new fund focused on food and retail-related start-up investments, Bloomberg reported. CNBC also said it will focus on two areas to drive future growth: start-ups and improving the in-store experience.

Starbucks said Wednesday ahead of its annual shareholder meeting that the new fund, managed by Valor Equity Partners, plans to refinance $300 million from other investors in the coming months. Valor Equity Partners has previously invested in Tesla and SpaceX.

Notably, the fund it manages also marks Starbucks 'first such investment, after Johnson's focus on technology. CNBC reported that in about two years as CEO, he not only pushed the company into the delivery phase of relevant technology project investments, but also increased digital interaction with customers.

The media also pointed out that in the past few years, investing in start-ups has become increasingly popular among other food companies, which are adapting to changes in consumer tastes, and Starbucks is trying to solve this problem as fewer customers drink high-calorie Frappucinos.

In addition, with shareholders in mind, Starbucks announced the launch of an accelerated $2 billion stock buyback program as part of its goal of returning $25 billion to shareholders over three years.

Starbucks has long marketed its stores as "the third place," a social place between home and office. Starbucks COO Roz Brewer said in a statement: "Reinventing the 'third space' is about listening to customers so we can better position our business now and in the future."

After Seattle, Shanghai, Milan and New York, Starbucks Reserve Roastery Tokyo opened in Nakameguro District, Tokyo, Japan on February 28, becoming the largest Starbucks selection baking workshop in the world with a large area of 2966㎡.

Earlier this month, starbucks made money again with a wave of marketing through the holy grail of cat claws.

On the afternoon of March 1, people squatting at Starbucks Tmall official flagship store added the "cat claw cup" to the shopping cart early, only waiting for 15 o 'clock to arrive and pressing the "settlement" button. In less than a second, 3000 cups were snapped up, and the Cat Claw Cup was immediately removed from shelves.

Starbucks is also trying its best to grab a bigger piece of ground in the coffee wars of Lucky, Costa, and even 711 and the whole family.

END