Starbucks Coffee Company has announced a new corporate structure to accelerate its growth strategy, which will take effect by the end of September.
The coffee giant, based in Seattle, Washington, currently has two business units, Starbucks US and Starbucks Coffee International (SCI), with 20 percent of its revenues earned overseas.
The new structure will include three divisions; the Americas, China and Asia Pacific, and EMEA, covering Europe, the UK, the Middle East, Russia and Africa.
The company currently has around 11,000 outlets in the US and Canada, and 6,000 in the rest of the world.
“Our company performance over the past two years has positioned Starbucks for the significant international opportunities ahead and the acceleration of our global growth strategy,” said Howard Schultz, chairman, president and chief executive officer. “Today we are successfully executing our multi-brand, multi-channel strategy and we believe the leadership and organizational moves announced today will optimize our speed and focus going forward.”
Schultz has boosted the company's performance since he reassumed control in January 2008, closing under-performing stores in the US and selling pre-packed coffee in supermarkets.
In January, the company also dropped its name and the word "coffee" from its logo, with a view to expanding its range of drinks and food products.
With tea being the second most consumed beverage in the world after water, the company intends to build its Tazo Tea brand into a globally-recognized multi-billion dollar brand competing for a larger share of an $87 billion global market opportunity.
