Jucing It Up At Starbucks
Juicy or not, this is a receipe for disaster. Starbucks is having a tough enough time pushing their 3three and four dollar drinks largely because of the economy..now juice? Stockholders..it's time to sell...quick
The juicy rumors that began last month are true: Starbucks Coffee Co. announced a $30 million purchase yesterday of private equity-backed Evolution Fresh, with plans to launch a separate chain of retail stores with a juice focus. It signals the largest diversification for Starbucks in its 40-year history.
“Our intention is to reinvent this category in the same tonality that we have reinvented ... the basic commodity of coffee,” said Starbucks CEO Howard Schultz in a conference call discussing the news. He said the move would give Starbucks access to the $1.6 billion super-premium juice sector, and the larger $50 billion health and wellness market.
More From KOOL 101.7
