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STARBUCKS CORPORATION 10 PROFILE OF THE COMPANY Starbucks Corporation is a Seattle Washington based coffee company Its main core business is to roast and sell whole bean coffee and coffee drinks through its retail outlets spread across USA and other major developed countries in Europe Middle East and Asia Schultz started the company in 1985 named Giornale He got the business concept of retail coffee bars while on a visit to Italy He found Italians were adherent coffee lovers and loved to relax and discuss in coffee bars He felt Americans would also prefer a premium cup of coffee if offered in a relaxing environment and spend some time in the coffee bars America was one of the largest consumers of coffee in the world after Italy Germany and Japan His idea did not find much acceptance among his partners in Starbucks Corporation where he was working as VP marketing Starbucks Corporation was established in 1971 in Seattle and was mainly in the business of selling roast bean coffee Majority of the coffee sellers in America were selling the cheap quality coffee unlike the premium and expensive roast bean coffee sold in Italy and Japan Schultz was of the opinion that Americans would pay for a premium cup of coffee if offered in the right environment As his partners did not support his idea he went ahead and established his own first coffee house in 1985 Quickly the concept of premium coffee sold through retail outlets or coffee bars caught the imagination of consumers and the demand quickly grew Schultz to protect the concept being copied rapidly expanded the number of his retail outlets By end of 1993 he had opened 100 outlets through out USA In 1987 the owners of Starbucks sold the firm for 4 million and thus he acquired the name of Starbucks coffee for his retail outlets In addition he acquired Coffee connection a 25
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