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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.

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Starbucks (with Howard Schultz)

@ Acquired

06/04/24

Related Takeaways

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.

HS

Howard Schultz

06/04/24

@ Acquired

The success of Starbucks in Japan was unexpected; we opened our first store there in August, and it became an instant hit, leading to 2,000 locations.

HS

Howard Schultz

06/04/24

@ Acquired

When I acquired Starbucks, we had six stores and ended the year with eleven stores and 100 employees.

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.

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

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

Starbucks has become an institution, facing higher expectations for success compared to smaller, disruptive organizations.

HS

Howard Schultz

06/04/24

@ Acquired

In 1982, I joined Starbucks as the head of marketing when they were preparing to open their fourth store, still focused solely on selling coffee beans.

HS

Howard Schultz

06/04/24

@ Acquired

Starbucks has successfully created a coffee culture that attracts consumers who may not have engaged with coffee otherwise, expanding the market.