Renews partnership with China Soong Ching Ling
Foundation
Reaffirms commitment as the Employer of Choice
with third Partner Family Forum in Guangzhou and Career Development
Programs for China partners
Long-term China growth aspirations on-track;
operating more than 1,200 stores across 68 cities and to exceed
1,500 stores by 2015
Howard Schultz, chairman, president and chief executive officer
of Starbucks Coffee Company (NASDAQ: SBUX) today reaffirmed
Starbucks commitment to leverage the company’s unique combination
of passionate partners (employees) and store footprint to deliver
long-term growth through the lens of humanity. Speaking at
Beijing’s iconic Great Hall of the People, founder of the Starbucks
Foundation, Howard Schultz, announced a total of US$3 million
investment in China by the Starbucks Foundation spanning three
years, including US$1.5 million to the China Soong Ching Ling
Foundation (CSCLF), following his meeting with Mr. Hu Qili,
Chairman, China Soong Ching Ling Foundation. The commitment,
administered by Give2Asia, a social enterprise dedicated to
building a civil society across Asia, furthers the eight-year
partnership with CSCLF, designed to unleash lifelong educational
and leadership opportunities for young people in China.
Starbucks China hosted the first Partner
Family Forum in Guangzhou where more than 1,200 partners and their
family members attended the inspiring event which celebrated love,
humanity and opportunity for partners (employees) in China. (Photo:
Business Wire)
“As Starbucks China has grown to now more than 1,200 stores in
over 68 cities, and 20,000 partners, so too has our foundational
aspiration to build a different kind of company in China; one
committed to performance that is driven through the lens of
humanity and locally relevant innovation,” said Schultz. “Today, we
are proud to honor and renew the Starbucks Foundation’s ongoing
partnership with the China Soong Ching Ling Foundation to enrich
the lives of Chinese youth and be a positive force in building
their future success.”
With the investment of US$1.5 million from the Starbucks
Foundation, through Give2Asia, the CSCLF will convene leading
experts in the areas of youth development, training, academics and
business to establish a unique curriculum that combines business
acumen, collaborative communications and social consciousness
focused on developing future leaders in China. Through the “Youth
Leadership Development Program,” students will build their skills
and also have mentorship opportunities with Starbucks senior
leaders. After participating in the program, students can choose to
apply for training courses under the Starbucks China University or
corporate internship opportunities with Starbucks in China. The
program will reach 1,500 university students across China, from
both urban and rural areas and those with disadvantaged
backgrounds, over the three years.
“We are pleased to expand our partnership with the Starbucks
Foundation to continue to foster young leaders in China who have
demonstrated a passion and commitment to serving the society around
them,” said Mr. Jing Dunquan, vice-chairman, China Soong Ching Ling
Foundation. “The investment from the Starbucks Foundation will
directly develop locally-relevant education and mentorship programs
for university students to build leadership skills in communities
across China.”
Since 2006, the Starbucks Foundation and China Soong Ching Ling
Foundation have partnered to address relevant needs across China.
From providing 3,000 rural teachers with innovative teaching
methods, providing 1,200 aspiring teachers with college
scholarships and supporting over 900 environmental conservation
projects by university students, the two organizations look forward
to continuing their collaboration to positively impact
communities.
Celebrating New Opportunities for Partner Growth
Earlier this week, Schultz also joined more than 1,200 Starbucks
partners and members of their family in the South China region at
the Starbucks China Partner Family Forum in Guangzhou. This
first-of-its-kind partner engagement event in the city was first
introduced by Starbucks in 2012 in China as part of a series of new
initiatives aimed at further differentiating the company as the
employer of choice in the market. Themed “Inspiring and Celebrating
Love, Humanity and Opportunity,” the event highlighted Starbucks
commitment to build one of the world’s most trusted, admired and
enduring brands, while investing in the long-term development and
career growth of its partners.
“As Starbucks continues to grow in China, our partners will have
unprecedented opportunities to build long-term careers within the
company,” said Belinda Wong, president, Starbucks China. “Through
unique initiatives such as the Starbucks China University, we will
continue to make investments in our partners to help them achieve
their fullest potential and realize their career goals.”
Since establishing Starbucks China University in November 2012,
the company has provided 725,000 training hours to nearly 14,000
partners.
On track to Operate 1,500 Stores by 2015
The China market has been key to Starbucks international
expansion efforts since the opening of its first store in Beijing
in 1999. In fiscal 2013, Starbucks opened more than 300 stores and
delivered the unique Starbucks Experience to customers in 10 new
cities across China. Today, Starbucks operates more than 1,200
stores across 68 cities, and China is on track to become the
company’s largest market outside of the U.S. by the end of 2014.
Looking ahead, Starbucks expects to reach 1,500 stores by 2015, and
since 2011, has created 14,000 new job opportunities.
“The equity of the Starbucks brand in China has
always been a result of the passionate partners who wear the green
apron and deliver the unique Starbucks Experience to our customers
each day. We will continue to listen to our partners and customers
and innovate in ways that grow the brand and our people in the
right way for China,” added Schultz.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to
ethically sourcing and roasting high-quality arabica coffee. Today,
with stores around the globe, the company is the premier roaster
and retailer of specialty coffee in the world. Through our
unwavering commitment to excellence and our guiding principles, we
bring the unique Starbucks Experience to life for every customer
through every cup. To share in the experience, please visit us in
our stores or www.starbucks.com.
Forward-Looking Statements
This release contains forward-looking statements relating to
certain company initiatives, strategies, plans, trends and
expectations regarding China, including the size of the market and
timing, expansion efforts, number of stores, the pace and form of
growth, store sales, innovations, connections with our customers,
store experience and performance, and leadership position in China.
These forward-looking statements are based on currently available
operating, financial and competitive information and are subject to
a number of significant risks and uncertainties. Actual future
results may differ materially depending on a variety of factors
including, but not limited to, coffee, dairy and other raw material
prices and availability, costs associated with, and the successful
execution of, the company’s initiatives, strategies and plans in
China and the other markets in which Starbucks does business,
changes and uncertainties in economic, social, political and
regulatory conditions in China, the acceptance of Starbucks
products in China, foreign currency and exchange fluctuations, the
impact of competition and other risks detailed in the company
filings with the Securities and Exchange Commission, including the
“Risk Factors” section of Starbucks Annual Report on Form 10-K for
the fiscal year ended September 29, 2013. The company assumes no
obligation to update any of these forward-looking statements.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20140605005494/en/
Starbucks Coffee CompanyMarianne Duong, +1
206-318-7100press@starbucks.com
Starbucks (NASDAQ:SBUX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Starbucks (NASDAQ:SBUX)
Historical Stock Chart
From Apr 2023 to Apr 2024