Starbucks - The Rise and Fall...And Rise Again
Aaron Watson Aaron Watson
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 Published On May 17, 2023

This is the story of Howard Schultz and how he rescued Starbucks without losing its core values. Having grown Starbucks to 29,324 stores worldwide, Schultz retired as the CEO of Starbucks for the second time. When he returned to Starbucks in 2008, the company was on a downward slide, and in a leaked memo, Schultz identified a problem: Starbucks had lost its quality and consistency.

Schultz's mission to rebuild the relationship with customers began with focusing on the basics, starting with espresso. He also launched the Starbucks reward card, which drew in millions of customers and created a $1.2 billion interest-free loan that he could invest into Starbucks growth and operations. Schultz's master plan for expansion was focused on China, which had by 2015, opened over 1500 locations. The statement implies a strong presence and growth potential in the Chinese market. This was the biggest acquisition in Starbucks history. Tune in to hear more about Schultz's strategy in rescuing Starbucks.

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