Starbucks: A Fresh Brew of Leadership and Innovation

Starbucks has a history of excellence. Beyond its reigning status as the world’s most widespread coffee chain with over 38,000 locations globally, the coffee giant is now in its 24th consecutive year as a Best Global Brand–one of few brands that can boast its inclusion since the ranking’s inception. Now, with innovative campaigns on the horizon unveiling the company’s “Triple Shot with Two Pumps” growth strategy to investors in early November, Starbucks is poised for a promising future. 

The plan is expected to deliver long-term shareholder value by elevating the brand, strengthening and scaling digital, becoming more global, unlocking efficiency and reinvigorating the partner culture.  

Starbucks anticipates a 10-12% annual global revenue upswing in FY24 through strategic investments, digital innovations, the popular Starbucks Rewards program and new product offerings. Guidance for FY24 also projects a 15-20% Non-GAAP EPS growth. 

In the pursuit of this growth path, Starbucks is further building on its history of supporting the arts with recent announcements, such as the establishment of the Starbucks Annual Art Prize that will celebrate inspiring, emerging artists with a $1 million prize and the opportunity to display their art in Starbucks stores around the world. Starbucks also announced Scouted, which will highlight the artistic music and creative talents of its partners in stores. 

The company continues to expand its partnerships, building on strategic programs with companies like Delta Airlines, allowing Delta SkyMiles and Starbucks Rewards members to link their accounts. Starbucks plans to announce additional partnerships in the coming quarters, including partnerships with a leading financial institution and a world-class hospitality company. 

Through the company’s environmental promise to give more that it takes from the planet, Starbucks has verified 3,500 Greener Stores across 20 markets. The Greener Stores program, which aligns with 25 performance-based standards, developed in partnership with the World Wildlife Fund, addressing various environmental impacts, has already experienced success in the U.S. These efforts have resulted in annual savings of nearly $60 million, a 30% reduction in water consumption and a 30% decrease in energy usage compared to traditional store practices. Starbucks is now taking this initiative to new regions, expanding its global sustainability endeavors with the program’s introduction in Asia Pacific, Europe, the Middle East, Africa and Latin America and the Caribbean. “With a company of Starbucks’ scale–any one action, no matter how small, has the potential for massive impact,” Michael Kobori, Starbucks Chief Sustainability Officer said in a press release. 

Further, Starbucks is developing a groundbreaking sustainability learning and innovation lab, situated at its Costa Rican agronomy research and development hub, Hacienda Alsacia. In collaboration with Arizona State University, this lab will provide physical and virtual learning opportunities for Starbucks employees, students, researchers and industry leaders. It seeks to create and scale sustainable solutions for environmental and social challenges, focusing on climate adaptation and agricultural economics. It will soon offer courses to a selected group of ASU students and Starbucks partners, becoming fully operational within three years. 

Building upon its legacy of investing in education, Starbucks continues its commitment to cover 100% of tuition fees for eligible U.S. partners pursuing their first-time bachelor’s degree through Arizona State University’s online program that began in 2014. Starbucks celebrates its ongoing partnership with ASU, covering all tuition fees for eligible U.S. partners, with two significant achievements linked to this program: the largest-ever group of graduates, with over 10,000 partners receiving their degree. 

With an unwavering commitment to excellence, a focus on sustainability and a dedication to nurturing both its partners and the communities it serves, Starbucks continues to stand as one of the top brands in the world, once again ranking in Interbrand’s Best Global Brands report. 

Best Global Brands 2023

Brands as Acts of Leadership