There’s already a Starbucks on every corner, but CEO Howard Schultz has much larger plans for his empire — and they don’t necessarily involve coffee.
Schultz revealed his plans in an interview with German magazine Der Spiegel yesterday, and true to his style, they’re incredibly ambitious.
Here’s what Schultz had to say:
“I think we have an enormous opportunity to do a lot of things in the food and beverage industry. In the next 12 to 18 months, we will be unveiling new products and entirely new categories. I can’t tell you with specificity what it is, but we’re going to build a major multibillion-dollar business in the grocery industry for Starbucks, both domestically and around the world. I think people are going to be quite surprised over the next few years at what Starbucks is capable of doing.”
He didn’t note any specific products, but Starbucks has definitely been hard at work researching new items. It spent $9 million last year on R&D for new food, drinks and equipment, according to MSN Money.
It will be a gigantic step for Starbucks, but perhaps an inevitable one. The U.S. is already completely saturated with Starbucks stores, and the company has been aching to enter grocery aisles for a while now (and already offers a variety of coffee products there).
But we didn’t know the scope of Schultz’s aspirations was so big. If Schultz follows through, even grocery behemoths like Kraft Foods and Nestlé will surely be paying attention.
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