General Information / History : Starbucks

1062 WordsNov 8, 20155 Pages
General Information/History Starbucks Corporation is a specialty coffee retailer, roaster and marketer internationally. Jerry Baldwin, Zev Siegl and Gordon Bowker established the first stand-alone Starbucks coffeehouse was opened in Seattle, Washington in 1971. In 1987, the original founders sold the company to the present CEO Howard Schultz for $7 million (“Starbucks Corporation”). Currently having 22,519 retail stores worldwide, Starbucks has developed into the largest coffeehouse company globally (“Starbucks Company Profile”). They sell a variety of products, such as handcrafted beverages, packaged coffee, bottled drinks, tea, single-serve products, merchandise and snack, at licensed stores and grocery markets (“Starbucks Corporation Public Company Profile”). Business Category Starbucks has five main categorizations under the North American Classification System (NAICS) and the Standard Industrial Classification (SIC). The primary NAIC labels Starbucks as “Limited-Service Restaurants” and the secondary NAIC labels it as “Snack and Nonalcoholic Beverage Bars” and “Coffee and Tea Manufacturing.” For the SIC, Starbucks is labeled as “Eating places” under the primary SIC and “Roasted Coffee” secondary SIC (“Starbucks Corp”). Markets: Starbucks operates in American, Middle Eastern, African, European, and Asian markets (“Starbuck Corp”). Furthermore, within these markets, they are most pertinent in large urban markets, such as Seoul, Seattle, Shanghai, and Chicago (“Starbucks
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