Starbucks cites reinvention plans amidst economic pressures
Howard Schultz wrote the letter to address Starbucks partner.
Starbucks CEO Howard Schultz said they will implement reinvention plans for the coffee chain’s future as the food industry faces economic, societal, and operational pressures.
“We’re seeing unprecedented cultural division and economic trauma – all while navigating a pandemic, and it seems as though every day there is a new crisis to address,” Schultz said in a statement to Starbucks’ partners dated 11 July.
According to him, the reinvention plans include:
- Re-envision how we bring our mission to life.
- Renew the well-being of retail partners by radically improving their experience.
- Reimagine our store experience for greater connection, ease and a planet positive impact.
- Reconnect with our customers by delivering memorable and personalised moments.
- Redesign partnership by creating new ways to thrive together.
Shultz also cited that following principles that will keep Starbucks operations' afloat are safety, advancement for partners, well-being in communities, and shared power.
"Our Reinvention must even more deeply unleash power within each of us, more deeply share accountability in building a shared future and benefit all of us when the company succeeds. We aim to be a wholly new kind of company in our industry, setting a new standard," he added.
