Starbucks wants to diversify its product offerings going beyond coffee stores. The company feels that can make stronger brand to open up coffee stores globally while in the well established American marketplace, it wishes to diversify to grow up at a rapid and efficient pace.
The Evolution brand was purchased by Starbucks Company in November 2011 for $30 million. After that, the company opened several Evolution Fresh juice bars and in the meantime it promoted Evolution juices at its coffee stores.
In 2012, Starbucks acquired the Teavana Company for $620 million; its model is to manage Teavana stores in the similar way that it runs the coffee stores. Ultimately, in June 2012 Starbucks purchased La Boulange, a San Francisco based bakery, with the strategy to enlarge the food menu at its coffee stores. It currently offers La Boulange pastries in various parts of California, the Pacific Northwest, Phoenix, Chicago, New York and Boston (approximately 3,000 of Starbucks stores).
The main goal is to promote high quality food in order to satisfy the loyal customers’ category, and at the same time attract clients during lunch, offering La Boulange sandwiches and pastries that will be transported to the store frozen where they will be heated and served warm. La Boulange plan is the first step in a lot of Starbucks food changes.
Starbucks has also announced a strategic alliance with French Danone Company to create and develop an exclusive line of fresh yoghurt product, inspired by Dannon-branded Fresh dairy products.
Additionally, it talked also about the extension of its partnership with Green Mountain.
The clear idea is that Starbucks has huge plans within the next two-three years.