Starbucks Corporation recently hosted its 24th Annual Meeting of Shareholders, with more than 2,800 partners, shareholders, invited guests and board members in attendance.
Michael Conway, president, Global Channel Development shared two key announcements. The first being the launch of Starbucks Ready to Drink Cold Brew Coffee in the U.S. through the North American Coffee Partnership with PepsiCo. This coffee delivers craft cold brew on the go and will be introduced this summer.
The second announcement was Starbucks’ commitment to strengthening its global leadership position in the nearly $8 Billion premium single cup coffee category. This will come to life through an updated agreement with Keurig Green Mountain to continue to be the supplier of Starbucks K-cup pods. The companies updated their agreement to provide greater flexibility in driving product innovation and more control over quick and deep expansion of its products into channels beyond grocery.
Additionally, this summer in the U.S., Starbucks will launch an entirely new beverage line for the Keurig hot system - the Starbucks Latte which will include customer favorites including Caramel, Mocha and Vanilla Latte.
Lastly, this summer in Europe, Starbucks will launch espresso capsules which are compatible with Nespresso®* machines which will be sold first in UK and France through sales in Starbucks retail stores, grocery and online.
