REAL ESTATE

Starbucks to open two new store formats

BY Dan Berthiaume

Seattle – Starbucks Coffee Company will launch two new store formats in fiscal 2015, include a smaller-format concept aimed at urban commuters and a more premium store concept — Starbucks Reserve Roastery and Tasting Room — dedicated to the chain’s highbrow Reserve brand of coffees.

In addition to providing more limited offerings, the express formats will integrate Starbucks digital payment platform, including mobile ordering to expedite a quicker checkout. The company will also look to identify opportunities for digital at-home coffee purchases and subscriptions for take-home or home delivery.

“The evolution of our store experience is a direct reflection of how our customers are interested in both accessibility to the brand as well as speed and convenience,” said Cliff Burrows, group president, U.S., Americas, and Teavana, Starbucks. “Our scale affords us the unique opportunity to bring a flexible portfolio of options rooted in our core commitment to coffee quality.”

In December, Starbucks will open its first-ever Starbucks Reserve Roastery and Tasting Room, in its home town of Seattle. The 15,000-sq.-ft. store is designed to be an integrated coffee roasting, education and retail space that will allow the company to expand its small-lot coffee sourcing program.

The new Seattle store will allow Starbucks to double its small-batch roasting capacity and grow its Starbucks Reserve coffee offering from 800 to 1,500 stores worldwide, by the end of fiscal 2015. In addition to expanding the in-store offering, the company will create a specialized store experience devoted to highlighting its premium, limited-availability coffees in at least 100 locations, including both new and renovated spaces, in the next five years.

“Everything we have created and learned about coffee has led us to this moment. The Starbucks Reserve Roastery and Tasting room is a multi-sensory experience that will transform the future of specialty coffee,” said Howard Schultz, chairman, president and chief executive officer of Starbucks. “We plan to take this super premium experience to cities around the world, elevating the Starbucks experience not only through these stores but across our entire business.”

Starbucks is on track to bring approximately 1,550 net new stores in fiscal 2014 and 1,600 net new stores in fiscal 2015, with nearly 300 net new company-operated locations in the U.S.

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