Its superior brand image is also a key driver of growth for the brand.
Starbucks is a highly popular premium coffee brand, which has achieved significant growth worldwide driven by mainly its focus on product quality, customer service and a unique approach to marketing. The company’s net revenues were down to $23.5 billion in 2020 from $26.5 billion in 2019. Its total net revenues declined in 2020 compared to the previous year mainly due to the impact of the pandemic. The company had 16,637 company operated stores operational in 2020 and 16,023 licensed stores. The other brands in its portfolio include Teavana, Seattle’s Best Coffee, Evolution Fresh, Ethos, Starbucks Reserve and Princi.Īs of September 2020, the number of Starbucks stores operational worldwide was 32,660.
Starbucks also sells its coffee products through its global coffee alliance with Nestle.
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