How Starbucks Is Staying at the Top of Its Game
The company's decision to venture into the juice market is just the latest in a string of recent innovative moves
Starbucks seems like that kid in high school that got good grades, was the star of three different varsity sports teams, participated in countless extracurriculars, and still had a social life. They're that rare breed of exceptional, successful multitasker that you can't help but be envious of, yet also can't help but like.
Well, it looks like the coffee giant has picked up yet another project to add to its long list of activities. Just last week, the company announced that it had acquired the West Coast-based premium juice brand, Evolution Fresh Inc. (for $30 million in cash, no less). It's news that seems to explain the company's relatively recent decision to remove the word "coffee" from its logo, as well as their hiring of Yohana Bencosme, formerly of the popular New York City juice bar Liquiteria.
While some had speculated that Starbucks' entry into the juice market might mean that stores would be divided into half a coffee shop and half a juice bar, it turns out that the company will be launching an entirely new, indepedent chain of juice bars. It would seem to be a smart move, considering the growing popularity of juicing and juice diets in the multi-billion dollar health-and-wellness sector. And just think — if all goes well, instead of there being a Starbucks on every other corner, it could go, Starbucks, Starbucks juice bar, Starbucks, Starbucks juice bar. Convenient, right?
Love it or hate it, you have to admit that Starbucks is good at staying at the top of its game and ahead of the curve. In addition to this most recent announcement, the company just last month revealed plans to debut a new "blonde" roast to its roster, a strategic move to meet consumer demands and level the playing field with competitors like McDonald's McCafé and Dunkin' Donuts.
So what else has the company done recently to continue to make it a seemingly unstoppable force? We decided to take a look at some of the biggest and most significant moves Starbucks has made over the last few years.