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HS
Howard Schultz
06/04/24
@ Acquired
Starbucks provides health insurance to the families of its partners in China, a move that impressed the Chinese government.
Video
A
Starbucks (with Howard Schultz)
@ Acquired
06/04/24
Related Takeaways
HS
Howard Schultz
06/04/24
@ Acquired
In 1988, Starbucks rolled out health benefits to part-time employees, including same-sex couples in domestic partnerships, which was groundbreaking at the time.
HS
Howard Schultz
06/04/24
@ Acquired
Starbucks has expanded significantly in China, growing from 500 stores in 2011 to nearly 7,000 today, with a new store opening every 15 hours in 2017.
HS
Howard Schultz
06/04/24
@ Acquired
Belinda, a key employee, played a crucial role in establishing Starbucks in China, adapting the business model to fit local culture.
HS
Howard Schultz
06/04/24
@ Acquired
We struggled in China for nearly a decade, facing significant financial losses until Belinda Wang joined and changed the course of Starbucks in that market.
HS
Howard Schultz
06/04/24
@ Acquired
I proposed giving stock options to every employee, which was a groundbreaking idea at the time, and we announced that we would give 14% of everyone's base pay in stock options, which changed the culture of Starbucks and made everyone partners.
HS
Howard Schultz
06/04/24
@ Acquired
Starbucks pricing was linked to rising labor costs and the responsibility to shareholders, especially as a public company.
ZS
Zack Scriven Media Cast
06/13/21
@ Zack Scriven Media
Starbucks transformed the coffee experience by providing a comfortable environment that fosters a sense of belonging, making customers feel good about themselves when they visit.
HS
Howard Schultz
06/04/24
@ Acquired
Starbucks has built a unique brand identity that elevates the role of baristas, making it more respected compared to other food service jobs, like flipping burgers.
HS
Howard Schultz
06/04/24
@ Acquired
In 1999, Starbucks aimed for 2,000 stores by the year 2000 and achieved that goal a year early, opening its first store in Beijing during that time.