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My cup is full with gratitude and optimism on&nbsp;this morning&nbsp;of my first Starbucks Annual Meeting of Shareholders.

While Monday may have been&nbsp;<a href="https://stories.starbucks.com/press/2023/laxman-narasimhan-assumes-role-of-starbucks-chief-executive-officer/">“day one”</a>&nbsp;for me in my new role, the past six months of my immersion into the company have been shaped by so many of you who have taught me about our very special culture at Starbucks.

With you, I’ve experienced every aspect of the business to learn what it truly means to wear the green apron. You’ve welcomed me into our stores, trained me in how to be a barista, taught me about the work in our support centers, immersed me in our brand, our supply chain and manufacturing business, and you’ve introduced me to our agronomists and farmers in Origin where our coffee is sourced – all to help me deeply understand what we do, how we do it, and the challenges and opportunities facing us.&nbsp;&nbsp;

<a href="https://stories.starbucks.com/press/2023/message-from-laxman-to-all-partners/">Thank you</a>&nbsp;Starbucks partners and, of course, Howard, our founder, for taking such care and time with your support for me as I embarked on this journey.

Through my immersion, Howard, the leadership team, and I have spent a significant amount of time discussing the universal need for human connection – something Starbucks is uniquely positioned to deliver – in a world full of isolation, loneliness, and social exclusion. Together, we have acknowledged the opportunity for a refounding of Starbucks – to nurture the limitless possibilities for human connection over every cup of coffee.

To fully realize our limitless potential, however, we have to first address what is limiting us.&nbsp;With our reinvention plan introduced last year, we will continue our focus on improving the store, customer, and of course, the partner experience, including long-term hiring and retention, and continuing our investment in partner wages and store operations. Actioning our reinvention plan has been a critical step in unlocking our limitless potential. We know we have more work to do, and we will keep our partners updated as we continue to make progress too.

While our performance is strong, our health needs to be stronger. We must care for the artists and the theater in the front of our stores, and the factory in the back. We strive to be&nbsp;a different kind of company operating in a different kind of world. We must appreciate our history and honor what made Starbucks great; while evolving and modernizing our brand, our business, and our culture to meet the needs of today.

For long-term, sustainable growth, we will look to discover ways to further&nbsp;elevate the brand through coffee and in our stores; building on our leadership position, we will&nbsp;strengthen and further scale digital experiences for our customers; we will evolve to a&nbsp;more global presence&nbsp;for our business and our brand; we will work to&nbsp;become less wasteful and move with greater speed; and, critically, we will&nbsp;reinvigorate our culture around what it means to be a partner at Starbucks.

We are a team of partners, and as ceo, I will continue to earn my green apron every day. As we innovate and grow, with rigor and vigor, we will be directly engaging with retail partners to guide us. I have learned so much about the retail experience from working in our stores. To keep us close to the culture and our customers, as well as to our challenges and opportunities, I intend to continue working in stores for a half day each month, and I expect each member of the leadership team to also ensure our support centers stay connected and engaged in the realities of our stores for discussion and improvement.

I’m excited to get to know more of you as we begin creating this future together, and I want you to know that I’ll be bringing the heart, hands, mind, and spirit required to lead Starbucks. I will always be a fierce advocate for our partners and our culture. And importantly, I’ll balance our pursuit of brand innovation and operational excellence with our commitment to building meaningful human connections over coffee to bring out the best in our partners and help us all thrive, together.

As a company that started with just one store in Pike Place market, to now over 36,000 stores in over 80 markets around the world, we celebrate the millions of connections and conversations that happen at Starbucks and the one question we ask our customers each day, “How may we serve you today?”

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Starbucks Corporation

Dear partners, My cup is full with gratitude and optimism on this morning of my first Starbucks Annual Meeting of Shareholders.

Laxman Letter to Partners: With Gratitude and Optimism - Starbucks Stories

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Laxman Letter to Partners: With Gratitude and Optimism

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<a href="https://stories.starbucks.com/starbucks-oleato-olive-oil-meets-coffee/">Starbucks Oleato™</a> brings together the unexpected – Starbucks® arabica coffee deliciously infused with a press of Partanna® cold pressed, extra virgin olive oil. The result is a velvety smooth, delicately sweet and lush coffee that uplifts each cup with an extraordinary new flavor and texture.

Following the February debut of <a href="https://stories.starbucks.com/press/2023/introducing-starbucks-oleato-a-revolutionary-new-coffee-ritual/">Starbucks Oleato™ beverages in Italy</a>, starting March 23, the Starbucks Reserve® Roasteries in Chicago, Seattle and New York, as well as the new Starbucks Reserve® Empire State Building® store, and the Starbucks Reserve® locations in SoDo Seattle and Greenwich Lane in NYC will launch Starbucks Oleato™ beverages. The original Starbucks store located in Seattle’s Pike Place Market will offer the beverages on March 23. Then on March 27, select Starbucks stores in Seattle and Los Angeles will start serving the beverages.

Starbucks Oleato beverages available in Seattle and LA starting March 27

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Starbucks Oleato™ Caffè Latte: Starbucks Blonde® Espresso Roast, a light roast that is smooth and subtly sweet, is infused with Partanna® extra virgin olive oil and steamed with creamy oatmilk to create a velvety smooth, deliciously lush latte.

Starbucks Oleato™ Iced Shaken Espresso: This coffee-forward beverage offers layers of flavor sweetened with notes of toffeenut, rich espresso and creamy oatmilk infused with Partanna® extra virgin olive oil.

Starbucks Oleato™ Golden Foam™ Cold Brew: The inviting aroma of lush Partanna® extra virgin olive oil infused cold foam cascades slowly through the dark, smooth cold brew, creating a subtle sweetness in the beverage.

Starbucks Oleato™ beverages and experiences available at Starbucks Reserve® Roasteries and stores starting March 23

The <a href="https://www.starbucksreserve.com/en-us/coffee" target="_blank" rel="noreferrer noopener">Starbucks Reserve®</a> Roasteries in Chicago, Seattle and New York, as well as the Starbucks Reserve® Empire State Building® store, the Starbucks Reserve® Greenwich Lane store in NYC, and the Starbucks® Reserve® SoDo store in Seattle will serve their own lineup of Starbucks Oleato™ beverages and offer an exclusive tasting experience starting March 23.

Starbucks Oleato™ Caffè Latte: Starbucks Reserve® Espresso and creamy oatmilk infused with Partanna® extra virgin olive oil, creating a velvety, luscious latte.

Starbucks Oleato™ Iced Cortado: Starbucks Reserve® Espresso, orange piloncillo syrup, a dash of orange bitters and oatmilk, infused with Partanna® extra virgin olive oil. It is then served over ice and finished with an orange peel.

Starbucks Oleato™ Golden Foam™ Cold Brew: Starbucks Reserve® Cold Brew lightly sweetened with vanilla bean syrup, finished with Partanna® extra virgin olive oil infused cold foam, creating an inviting aroma and subtle sweetness.

Starbucks Oleato Golden Foam™ Espresso Martini: Starbucks Reserve® signature Espresso Martini finished with a delicate sweet layer of Golden Foam™, a fusion of fior di latte (sweet cream) and Partanna® extra virgin olive oil.

The Oleato™ Tasting Experience: A barista-led, multi-sensory experience that showcases the alchemy of aroma, flavor, and texture unique to Oleato™. This immersive experience is only available at Starbucks Reserve® Roasteries in Seattle and Chicago, the Starbucks Reserve store Empire State Building, and reservations can be booked in advance at <a href="https://www.starbucksreserve.com/en-us/coffee">StarbucksReserve.com</a>.

Customers can also purchase Partanna® extra virgin olive oil at Starbucks stores and Starbucks Reserve locations where Oleato beverages are offered.

Three Starbucks Oleato beverages to go with small can of Partanna extra virgin olive oil on a marble countertop

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Starbucks Oleato™ brings together the unexpected – Starbucks® arabica coffee deliciously infused with a press of Partanna® cold pressed, extra virgin olive oil.

Starbucks Oleato Beverages Arrive at Select Stores in the U.S.

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I accept the position of ceo of Starbucks with the deepest of humility. I am thankful to chair Mellody Hobson and the Board of Directors for entrusting me with this responsibility.

Starbucks is an incredible company and its best days are ahead of it. We have a critical role to play in bringing human connection to a world that’s quite disconnected. And in that quest, the best days for you, my partners, are ahead of you.

I met Howard Schultz a year ago in New York City. From that moment, he has been a sensei who has introduced me to the company and to its ways — and the importance of coffee. Throughout my six month immersion journey, Howard has been generous in his advice and guidance, all steeped in ensuring I understood the history of Starbucks and its cherished culture. At one point, someone asked why my immersion was to take six months. I replied that the question was asked with a Western lens. If the question was asked with an Eastern lens, it would be: “Why did the immersion take only six months?”

Howard believes strongly that the partners in this company come first. While there is always more we can do, and will do, the investments set in place by Howard over the last year have set the table for a new future for the company. He knows — because he came up with it — that in order to exceed the customer expectations, we must first exceed partner expectations. For that, Howard deserves nothing but all the praise and the gratitude.

I know this to be incontrovertibly true, even if some in the world may choose to assert a different view. For Howard, every decision, every idea, and every innovation has to be viewed through the lens of our partners and how it will shape their experience. Take our newest innovation, Oleato — a creation that came from Howard’s mind. While we may all take great pride in the excitement from our customers, Howard’s biggest joy was seeing that partners were energized by the idea, eagerly queuing up to try the product at the Seattle Support Center.

I was at Pike Place last week very early in the morning. It was before the store opened. And then we opened it. There was silence. I walked the store, touching the wood on the shelves. I saw the hook that stood near the entrance that was meant for Caroline, a customer who came there to connect with employees. I saw the shelves — exactly as they were when the store first opened many years ago. The espresso machines slowly turned on. The market began bustling. And soon, lines of customers formed. Customers that craved what Starbucks has to offer.

Think of this. Our business is a human connection business. It’s a human connection business over coffee. It took genius to take Starbucks from 11 stores to 36,000. It took genius to make us the first company that gave out Bean Stock. It took genius to lead on healthcare and benefits — including our transgender healthcare. It took genius to be the first company in China to provide benefits no other company had. It took genius to coin the phrase “performance through the lens of humanity”.

And it took 40 years of work. Of inspiration. Of struggles. Of doing the right thing even when no one thought it to be the case. And it took the genius of the individual coupled with the symphony of thousands of partners to create the magic of Starbucks. And that is the foundation of the limitless future that I know we will enjoy as a brand. A brand that our partners make special, every day.

And as Howard leaves, let me repeat what I said in our town hall. He will always be our founder. We will always honor him.

Quite simply, and with love: Thank You Howard.

Message from Laxman to All Partners - Starbucks Stories

Dear partners, I accept the position of ceo of Starbucks with the deepest of humility. I am thankful to chair Mellody Hobson and the Board of Directors for entrusting me with this responsibility. Starbucks is an incredible company and its best days are ahead of it. We have a critical role to play in bringing […]

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Message from Laxman to All Partners

SEATTLE – Starbucks (NASDAQ: SBUX) announced, effective today, Laxman Narasimhan has assumed the role of chief executive officer and will join the company’s board of directors. Narasimhan was named incoming ceo on <a href="https://stories.starbucks.com/press/2022/starbucks-names-laxman-narasimhan-as-next-chief-executive-officer/">September 1, 2022</a>, succeeding company founder and now former ceo, Howard Schultz.

Following the global search for the new leader of Starbucks, Narasimhan joined the company as incoming ceo on October 1, 2022, bringing nearly <a href="https://stories.starbucks.com/leadership/laxman-narasimhan/">30 years of experience</a> leading global consumer goods businesses and advising retail, grocery, restaurant and e-commerce companies. Over the past five months, he has embarked on a unique immersion experience, traveling to work with partners (employees) in over 30 stores, manufacturing plants and in support centers around the world, earning his barista certification along the way. He became immersed in the reinvention plans for the company led by Schultz who returned as interim ceo effective April 4, 2022.

Since Schultz returned last year, Starbucks unveiled a company-wide reinvention strategy and continued to deliver on more than $1 billion in investments in retail partners and stores for prioritized areas such as increased pay and sick time accrual, new financial well-being benefits, modernized training and collaboration, store innovation and equipment and the celebration of coffee.&nbsp;The company saw a 47 percent stock price increase since the Q2 FY22 earnings call through the Q1 FY23 earnings call, and market cap growth of approximately $40 billion during that same time. The company also delivered 50 percent in Total Shareholder Return in this time period, far outpacing the S&amp;P 500.&nbsp;Starbucks was also most recently named the most valuable restaurant brand for the 7th consecutive year by <a href="https://brandirectory.com/rankings/restaurants/" target="_blank" rel="noreferrer noopener">Brand Finance</a>.

Schultz shared a letter to the company’s senior leadership team on the eve of the announcement – viewable <a href="http://stories.starbucks.com/press/2023/you-are-the-future-of-starbucks-howard-schultz-letter-to-leaders-as-he-steps-down/">here</a>.

“The board wants to express our sincerest thanks to our founder, Howard Schultz, for selflessly picking up the leadership mantle when asked—forgoing compensation and putting aside his own pursuits—for the love of our company and its partners,” said Mellody Hobson, Independent Starbucks Board of Directors chair.&nbsp;“We would not be where we are without him.”

Narasimhan officially assumes the role of chief executive officer today and will lead Starbucks Annual Shareholder Meeting this Thursday, March 23. As he ascends into the role, Narasimhan will continue engaging the leadership team, sharing his early learnings and insights and assessing opportunities for the company as they chart a path forward.

“Laxman’s intensive immersion into the business coupled with his extensive experience as a proven brand builder, innovator and operator have uniquely prepared him to lead Starbucks into its next phase of growth,” said Hobson. “This immersion has deepened Laxman’s understanding of Starbucks culture and values. In this time of learning and listening, he has already won the hearts and minds of our partners around the world.”

“I am humbled to officially step into my role as Starbucks chief executive officer, leading our incredible team of more than 450,000 green apron partners around the world. The foundation Howard has laid – building from scratch an iconic global brand fueled by a lasting passion to uplift humanity – is truly remarkable, and I am honored to have the opportunity to build on this deep heritage,” said Narasimhan. “As a human connection business, we have limitless possibilities to deliver for our partners, our customers, our investors and our communities through every cup and every connection. I am excited to work alongside our partners worldwide to unlock the limitless future of Starbucks.”

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Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 36,000 stores worldwide, 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 online at stories.starbucks.com or <a href="http://www.starbucks.com">www.starbucks.com</a>.

Forward-Looking Statements

Certain statements contained herein are “forward-looking” statements within the meaning of applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “feel,” “forecast,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements may include statements relating to trends in or expectations relating to the effects of our existing and any future initiatives, strategies, investments and plans, including our Reinvention plan, as well as trends in or expectations regarding our financial results and long-term growth model and drivers; our operations in the U.S. and China; our environmental, social and governance efforts; our partners; economic and consumer trends, including the impact of inflationary pressures; impact of foreign currency translation; strategic pricing actions; the conversion of certain market operations to fully licensed models; our plans for streamlining our operations, including store openings, closures and changes in store formats and models; the success of our licensing relationship with Nestlé, of our consumer packaged goods and foodservice business and its effects on our Channel Development segment results; tax rates; business opportunities, expansions and new initiatives, including Starbucks Odyssey; strategic acquisitions; our dividends programs; commodity costs and our mitigation strategies; our liquidity, cash flow from operations, investments, borrowing capacity and use of proceeds; continuing compliance with our covenants under our credit facilities and commercial paper program; repatriation of cash to the U.S.; the likelihood of the issuance of additional debt and the applicable interest rate; the continuing impact of the COVID-19 pandemic on our financial results and future availability of governmental subsidies for COVID-19 or other public health events; our ceo transition; our share repurchase program; our use of cash and cash requirements; the expected effects of new accounting pronouncements and the estimated impact of changes in U.S. tax law, including on tax rates, investments funded by these changes and potential outcomes; and effects of legal proceedings. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties. Actual future results and trends may differ materially depending on a variety of factors, including, but not limited to: the continuing impact of COVID-19 on our business; regulatory measures or voluntary actions that may be put in place to limit the spread of COVID-19, including restrictions on business operations or social distancing requirements, and the duration and efficacy of such restrictions; the resurgence of COVID-19 infections and the circulation of novel variants of COVID-19; fluctuations in U.S. and international economies and currencies; our ability to preserve, grow and leverage our brands; the ability of our business partners and third-party providers to fulfill their responsibilities and commitments; potential negative effects of incidents involving food or beverage-borne illnesses, tampering, adulteration, contamination or mislabeling; potential negative effects of material breaches of our information technology systems to the extent we experience a material breach; material failures of our information technology systems; costs associated with, and the successful execution of, the Company’s initiatives and plans; new initiatives and plans or revisions to existing initiatives or plans; our ability to obtain financing on acceptable terms; the acceptance of the Company’s products by our customers, evolving consumer preferences and tastes and changes in consumer spending behavior; partner investments, changes in the availability and cost of labor including any union organizing efforts and our responses to such efforts; failure to attract or retain key executive or employee talent or successfully transition executives; significant increased logistics costs; inflationary pressures; the impact of competition; inherent risks of operating a global business including any potential negative effects stemming from the Russian invasion of Ukraine; the prices and availability of coffee, dairy and other raw materials; the effect of legal proceedings; and the effects of changes in tax laws and related guidance and regulations that may be implemented, including the Inflation Reduction Act of 2022 and other risks detailed in our filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” sections of the company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings.

A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. You should not place undue reliance on the forward-looking statements, which speak only as of the date of this release. We are under no obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

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Following the global search for the new leader of Starbucks, Laxman Narasimhan joined the company as incoming ceo on October 1, 2022, bringing nearly 30 years of experience leading global consumer goods businesses and advising retail, grocery, restaurant and e-commerce companies.

Laxman Narasimhan Assumes Role of Starbucks Chief Executive Officer

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As I step down as interim ceo of Starbucks, I am leaving you with this letter, written on the sunset of my last day as ceo for all of you to read on the morning of this new era. This is not a letter with advice. Everything you need to know resides inside of each of you.

What I want to write to you about is the love and responsibility for our company that we all share. Today, I am entrusting you all with Starbucks – something that holds a place in my heart second only to that of my beloved family.

Starbucks truly has been my life‘s work – but more than that, it’s always been about the lives of the millions of partners over the years who have proudly worn the green apron and it’s about the hundreds of thousands more who will join Starbucks in the years to come. It’s about every customer who comes through our doors. It’s about the communities our stores call home. Our company is like a river – the stewards of it will change over time, but it’s always growing and changing, carving a new path and moving forward to something better.

As I step away, I leave you all as the stewards, in service of all of our partners. They are the heart and soul of our company – the living embodiment of human connection. Through the years, I’ve seen over and over the profound impact our partners have on our customers, from a new parent whose first outing is to a Starbucks to introduce their baby to their favorite barista, to a store where partners learned sign language to better serve a deaf customer, to a widower who said that when he goes to his Starbucks, it may be the only time all week someone greets him by name. Our partners are making a difference in millions of lives a day. Serve them well.

I want to acknowledge that there are times when the responsibility for our partners, customers and communities around the world will feel heavy. But as partners, know that you are not shouldering the responsibility alone. Lean into one another – you will find support everywhere, from the boardroom to partners in plants to store managers to the newest baristas. Our partners have been teaching me for more than 40 years. They will help you all continue to earn your green apron every day.

And, importantly, lean into the joy. There is so much joy. Every single interaction that we have as partners and that we have with customers is an opportunity for meaningful connection. It adds up to a limitless capacity for joy, love and support, with the center being Starbucks. Remember that.

As I turn Starbucks over to you now, know that you have my utmost confidence, trust and love. You all are the future of Starbucks.&nbsp;The world needs Starbucks – and Starbucks needs all of you.

The privilege and honor of being part of Starbucks has been the gift of my lifetime. I know it will be yours as well.

“As I step away, I leave you all as the stewards, in service of all of our partners. They are the heart and soul of our company – the living embodiment of human connection,” wrote Howard Schultz to the senior leadership team on the eve of Laxman Narasimhan’s first day as Starbucks new chief executive officer.

‘You are the future of Starbucks’: Howard Schultz’ letter to leaders as he steps down

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New round of investments, part of collective private and public sector collaboration, is a major step to scale innovative solutions to advance water access and reduce waste sent to landfill&nbsp;

Ahead of its 2023 Annual Meeting of Shareholders, Starbucks announced over $50 million in planned investments to advance its ambitious target to cut its water and waste footprints in half by 2030.

“At Starbucks, it’s our role and responsibility to protect our planet and give back more than we take. These investments will help us make significant strides toward our sustainability commitments while building a business that scales for good and is driven by innovation,” said Starbucks executive vice president of global coffee, social impact and sustainability, Michelle Burns.

Driven by the passion of its partners, <a href="https://stories.starbucks.com/press/2021/starbucks-expands-commitment-to-water-and-outlines-comprehensive-strategy/">Starbucks is committed to building a more equitable, resilient and sustainable</a> future for communities and the planet. This latest round of investments showcases the power of collective impact across sectors and Starbucks role as an industry-wide model for how thoughtful partnerships can drive environmental stewardship and long-term business goals.

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Mexico: Subsidized water delivery allows Gloria and her husband to have regular access to affordable water for drinking, bathing, cleaning, and growing fresh food in their garden. (Photo credit: Water.org)

Building a Water Positive Future

At present, two billion people around the world are living in water-stressed areas. Investing in water and climate projects can be a solution for advancing equity and human rights, alleviating the impacts of climate change and securing resilient supply chains.

In support of our expanded water commitment of 50% of water withdrawal conserved or replenished across our direct operations, stores, packaging and agricultural supply chain by 2030, Starbucks has committed to prioritize action in high-risk basins through collective action and support watershed health, ecosystem resilience and water equity.

To achieve this target, Starbucks is leveraging its global reach and partnering with other leading companies who are members of the United Nations Water Resilience Coalition and the public sector to unlock critical capital for making progress against UN SDG 6. Starbucks <a href="https://unglobalcompact.org/news/5046-03-16-2023" target="_blank" rel="noreferrer noopener">announced an initial anchor investment of up to $25 million into WaterEquity’s Global Access Fund IV</a> in partnership with other corporate peers and the United States International Development Finance Corporation. Through such an investment, Starbucks is helping lead the way in an innovative approach to water stewardship with the hope of catalyzing additional companies to invest in water action. Starbucks is exploring additional investments that would bring our total investment intended to advance water access, sanitation and hygiene (WASH) to $50 million.

Starbucks recent investment with WaterEquity will support improvements in water access and quality for low-income populations in countries across South and Southeast Asia, Sub-Saharan Africa and Latin America through microfinance loans for the purchase of WASH products and services such as household toilets, water filters and tap connections. Innovative investments like this build on The Starbucks Foundation’s long history of investments in WASH around the world and help meet the company’s new commitment to enhance WASH for 5 million people. The company is complementing its investments with ongoing programmatic work in high-risk basins with leading NGO partners including WWF, TNC, Water.org and WaterAid.

Brazil: Since getting access to safe water at home, Cirliane can spend her time baking cakes to sell rather than walk to collect water. (Photo credit: Water.org)

Investing in a Circular Economy

In another key step to reduce its environmental impact and bolster a more robust recycling industry, Starbucks <a href="https://www.closedlooppartners.com/global-corporations-join-brookfield-to-invest-nearly-a-billion-dollars-in-closed-loop-partners-operating-company-circular-services-the-leading-developer-of-circular-economy-infrastructure/" target="_blank" rel="noreferrer noopener">announced a $10 million investment in Circular Services</a> to reduce landfill waste and drive innovative efforts to shift towards a circular economy in the United States.

Circular Services is the largest privately held recycling company in the United States, and Starbucks investment will support their work helping U.S. municipalities and businesses reduce the amount of valuable recyclable material sent to landfill. Circular Services uses advanced technology to improve sortation, processing and reuse of valuable commodities, including consumer packaging, organics, textiles, electronics and more, for continual reuse in domestic supply chains.

This investment will not only bring recycling access to Starbucks stores, but also creates a partnership with leading waste industry stakeholders to collaborate on recycling solutions for packaging types with limited access to recycling programs such as Starbucks hot cup.

Sims Municipal Recycling (SMR), a Closed Loop Partners investment, produces hundreds of thousands of tons of recycled metals, plastics, paper and glass for sale to mills, smelters, refiners, re-claimers and secondary material processors. (Photo credit: Michael Anton | Sims Municipal Recycling)

“Now is the time for bold action to transform the recycling infrastructure in the U.S. Starbucks is excited to join with Microsoft, Nestle, PepsiCo, SK Group, Unilever, Brookfield and the Partnership Fund for New York City to help generate nearly a billion-dollar investment in Circular Services. This builds upon our long-standing work with Closed Loop Partners, whose NextGen Consortium has made significant strides in advancing sustainable packaging, including bringing hot cup recycling to more communities,” said Starbucks chief sustainability officer, Michael Kobori.

Starbucks investment is part of a collaborative collective including Microsoft, Nestlé, PepsiCo, SK Group, Unilever and Brookfield Renewable, all working to scale circular economy infrastructure with a goal of catalyzing further corporate capital and accelerating growth of innovative partners that will champion the circular economy of the future.

As we look to the future, we are challenging ourselves to think bigger and do much more in partnership with others to take care of the planet we share. With the help of our partners, customers, industry experts and advocates, we are innovating – testing, learning and scaling – new ways to help protect our planet.

Supporting Water Projects Worldwide&nbsp;

Starbucks is also investing RMB 3 million to initiate the Qiandao Lake water replenishment project, in partnership with The Nature Conservancy, and with the support of the local government. Through this initiative, the company seeks to develop water replenishment into a viable and effective nature-based solution that complements existing water conservation efforts, with potential for adaptation to other critical water basins across China.&nbsp;&nbsp;

The project features two scientifically proven strategies for improving water quality, tailored to the unique characteristics of the local natural ecosystem including the promotion of sustainable agriculture to reduce soil erosion and surface runoff and wetlands restoration that naturally filters off pollutants while enhancing local biodiversity. Qiandao Lake supplies drinking water to approximately 10 million people across Zhejiang Province.&nbsp;&nbsp;

Alsea Foundation, The Starbucks Foundation and World Vision announced a partnership with Planet Water Foundation to guarantee access to clean water for vulnerable communities with plans to install 25 water towers over the next five years. The initiative will guarantee access to clean and safe water for 45,000 people in various communities across Mexico and in markets where Alsea operates Starbucks stores.&nbsp;

“We believe that access to clean and safe water is a basic human right, which is why we have collaborated with Planet Water Foundation for more than 10 years, starting in Indonesia and recently expanding to Latin America,” said Alicia Vermaele, director of The Starbucks Foundation. “We are proud that this new initiative will accelerate access for communities in Mexico, Colombia and other places where there is insufficient access to clean water, with the help of our local Starbucks partners as volunteers, who know their communities best.”&nbsp;

Ahead of its 2023 Annual Meeting of Shareholders, Starbucks announced planned investments to advance its ambitious target to cut its water and waste footprints in half by 2030.

Starbucks Commits Over $50 Million to Sustainable Waste and Water Funds Toward a Resource-Positive Future

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Spring is in the air, and Starbucks is welcoming the season with the introduction of the new Cinnamon Caramel Cream Nitro Cold Brew, in stores starting Tuesday, March 7.&nbsp;&nbsp;

The new Cinnamon Caramel Cream Nitro Cold Brew offers flavors of cinnamon and caramel that are swirled into Starbucks Nitro Cold Brew then topped with cinnamon sweet cream cold foam and a dusting of cinnamon dolce topping. Starbucks Nitro Cold Brew is slow-steeped and infused with nitrogen when it’s poured, creating a velvety, smooth coffee that is topped with a gorgeous cascade of cold foam. Cinnamon Caramel Cream Nitro Cold Brew is joining Starbucks menu year-round, giving cold coffee fans a delicious new Nitro Cold Brew to enjoy all year long.&nbsp;

“Taking inspiration from salted caramels and gooey sticky buns, the new Cinnamon Caramel Cream Nitro Cold Brew is a lovely balance of decadent baking flavors with a delicate and creamy cold foam topping that seamlessly blends into the coffee with each sip,” said Erin Marinan, Starbucks beverage developer. “This velvety smooth Nitro Cold Brew provides customers with a fresh take on the fan-favorite caramel flavor.”

Customers can also find a selection of <a href="https://stories.starbucks.com/press/2023/starbucks-adds-a-pop-of-color-to-spring-with-new-drinkware/">spring inspired drinkware</a> featuring eye-catching combinations of bright hues to add a pop of color to their favorite beverages this spring. As always, customers can bring any clean, reusable cup into Starbucks and receive a $.10 discount on their order. Plus, Starbucks Rewards members can also receive 25 bonus Stars in addition to the $.10 discount when they use a reusable cup*.&nbsp;

Seasonal Whole Bean Coffee&nbsp;

Celebrate Starbucks iconic dark roast with the return of the seasonal Starbucks® Anniversary Blend, returning to Starbucks stores for a limited time. This dark roast blend is sourced from Indonesia and features notes of cedary spice and black truffle. Starbucks®&nbsp;Anniversary Blend was created in 1996 to celebrate the company’s 25th anniversary and returns every year as a testament to the past and a celebration of the future.&nbsp;&nbsp;

Also available for a limited time at select Starbucks stores and Starbucks Reserve® locations are two single origin Starbucks Reserve coffees, hand-selected for the spring season and roasted at Starbucks Reserve Roasteries.&nbsp;&nbsp;

Starbucks Reserve Guatemala Lake Atitlán features notes of malted chocolate and apricot. Lake Atitlán is a coffee growing region surrounded by volcanoes, providing a unique microclimate perfect for growing coffee. Grown in mineral-rich soil on smallholder farms, this lot is bright and full-bodied, with exquisite flavors that bring the magic of the region to life.&nbsp;

Starbucks Reserve Ethiopia Yirgacheffe Chelelektu showcases a coffee from Ethiopia Yirgacheffe, the coffee-growing region that many believe coffee was first discovered more than a millennium ago. With deep respect for time-honored traditions, this coffee takes us back to the start and features notes of raspberry and honey.&nbsp;

Spring Down the Grocery Aisle&nbsp;&nbsp;

This spring there are several new and returning Starbucks packaged and ready-to-drink coffees, available where groceries are sold.&nbsp;&nbsp;

The sweet and nutty notes of toasted coconut complement rich chocolatey flavors in the distinctive seasonal blend that is Starbucks®&nbsp;Toasted Coconut Mocha. Iced or hot, discover the delights of the season with each enticing sip.&nbsp;

Celebrate the joy of spring with the wonderfully balanced and smooth Starbucks®&nbsp;Spring Day Blend. A unique blend of black coffee from Africa and Latin America, with notes of rich cocoa and lush dried fruits, this harmonious bloom of flavors is the perfect centerpiece for any springtime gathering.&nbsp;

Fans of Nitro Cold Brew can also take their favorite velvety smooth cold brew with them wherever they go, with Starbucks canned Nitro Cold Brew, available where groceries are sold.&nbsp; Infused with nitrogen, Starbucks canned Nitro Cold Brew features microbubbles that deliver the delicious, velvety smooth taste Nitro Cold Brew fans know and love, on-the-go. Available in five delicious flavors: Black Unsweetened, Splash of Sweet Cream, Dark Caramel, Vanilla Sweet Cream, and Dark Cocoa Sweet Cream.&nbsp;&nbsp;

The Starbucks® Daily&nbsp;

Infuse daily positivity into the season with a new daily ritual, The Starbucks®&nbsp;Daily. Powered by Hark Audio and exclusively hosted by Jad Abumrad, a pioneer and icon in the podcast community, The Starbucks®&nbsp;Daily shares brilliant podcast moments, highlighting stories of kindness, pop culture and many other topics to sip along with, spark curiosity and awaken a sense of awe. Starbucks Rewards members can find The Starbucks®&nbsp;Daily in the Starbucks app. &nbsp;

*Valid at participating stores on in-store beverage purchases only (max 3x per day). To qualify for the reusable cup benefit, you must have made at least one Star earning transaction.&nbsp;

Cup of Starbucks Cinnamon Caramel Cream Cold Brew surrounded by square caramel candies

Spring is in the air at Starbucks, with a new beverage, seasonal drinkware and specialty coffees.

Starbucks Springs into the Season with New Cinnamon Caramel Cream Nitro Cold Brew

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Spring has sprung at Starbucks and customers can brighten their day with a variety of new seasonally inspired drinkware in eye-catching combinations of bright hues. From cold cups to tumblers, mugs and more, these spring must-haves are available at participating Starbucks stores in the U.S. for a limited time, while supplies last. As always, customers can bring any clean, reusable cup into Starbucks and receive a $.10 discount on their order. Plus, Starbucks Rewards members can also receive 25 bonus Stars in addition to the $.10 discount when they use a reusable cup*.

Make every day feel like an afternoon in the park with this cold cup!Price: $19.95

Checkered Cold Cup (24 oz)

starbucks-blocks/product-recommend

Accompany any cup of coffee with shades of sunset for feelings of warmth with every sip.Price: $22.95

Pink &amp; Orange Gradient Tumbler (12 oz)

Spring into the season with the newest Grid Cold Cup color combination.Price: $22.95

Green &amp; Pink Grid Cold Cup (24 oz)

Enjoy a cold coffee or Starbucks Refreshers® beverage in a bright blue cold cup under a bright blue spring sky.Price: $19.95

Bluebell Soft Touch Cold Cup (24 oz)  

Stay hydrated in style with this multi-colored water bottle.Price: $24.95

Multi-color Glass Water Bottle (20 oz)

Start any spring morning off right with this citrus-inspired mug.Price: $14.95

Citrus Mug (14 oz)

Brighten up any morning with this pastel tumbler.Price: $19.95

Pastel Ombre Tumbler (12 oz)

Add a brilliant pop of green to the daily cup of coffee.Price: $22.95

Green Stainless Steel Tumbler (16 oz)  

Bloom like the brightest spring florals all season long.Price: $19.95

Petunia Tumbler (12 oz)

Pricing of drinkware varies by retailer; availability may vary based on store location. &nbsp;

*Valid at participating stores on in-store beverage purchases only (max 3x per day). To qualify for the reusable cup benefit, you must have made at least one Star earning transaction.

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Starbucks customers can brighten their day with a variety of new seasonally inspired drinkware in eye-catching combinations of bright hues.

Starbucks Adds a Pop of Color to Spring with New Drinkware

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In a season designed for fresh starts, spring is a time for rediscovery and change. This season, Starbucks will help refresh the at-home coffee break in partnership with style expert Tan France as part of the “Spring Coffee Break” campaign.

The campaign encourages coffee drinkers to take a well-deserved break starting with their morning coffee cup of spring coffee, including the new <a href="https://athome.starbucks.com/products/toasted-coconut-mocha-flavored-coffee-ground" target="_blank" rel="noreferrer noopener">Starbucks® Toasted Coconut Mocha flavored coffee</a> and <a href="https://athome.starbucks.com/products/spring-day-blend-ground" target="_blank" rel="noreferrer noopener">Starbucks® Spring Day Blend</a>. As part of the campaign, Tan is sharing tips and tricks to inspire daily coffee rituals at home and revive routines to make the Spring Coffee Break uniquely yours.

At-Home Glow Up: Re-energize your work and living space by making it suitable for you and your seasonal needs. Embrace natural light and a change of scenery and switch off from work when you leave your desk at the end of each day.

Refresh your Coffee Break: Rediscover the power of your coffee break. Whether you like to multi-task or take time away from the screen, turn up your favorite playlist and boost your mood along with your favorite cup of coffee.

Let the Season Inspire You: If you really want to shake things up this spring season, treat yourself and your coffee mug to something new and refreshing. <a href="https://athome.starbucks.com/?utm_campaign=CY22_AlwaysOnSearch&amp;utm_source=google&amp;utm_medium=cpc&amp;utm_term=starbucks%20at%20home&amp;utm_matchtype=e&amp;gclid=CjwKCAiAl9efBhAkEiwA4TorioFw0AjMJctmbn0_jOuRI1QjOkmsvyPlg-M6INLzy23hQq_jGOHfFxoCXecQAvD_BwE&amp;gclsrc=aw.ds" target="_blank" rel="noreferrer noopener">Try the new Starbucks® Toasted Coconut Mocha flavored coffee and Starbucks® Spring Day Blend</a>. These seasonal varieties are crafted with 100% arabica coffee and are available for a limited time in Roast &amp; Ground packaged coffee and K-Cup® pods.

Werk Your Lewks: There are easy ways to embrace the YOU in your spring hybrid workstyle. Think: off-camera shorts, nap dresses, headbands, accessories and coffee sleeves.

Setting Boundaries: Setting boundaries isn’t always easy but knowing what you need, and asking for it, is so important. Doing so can help you carve out the time you need for self-care – from reading a great book to cooking a delicious meal. It all counts.

Make it Yours: The beauty of this time: it’s made to be yours. Make it work for you.

To learn more about the campaign, and for a chance to win a virtual coffee date with Tan France, visit the Starbucks® Spring Coffee Break website <a href="https://springcoffeebreak.com/index" target="_blank" rel="noreferrer noopener">here</a>, and to learn more about Starbucks® limited-edition spring coffees, visit <a href="https://athome.starbucks.com/" target="_blank" rel="noreferrer noopener">here</a>.

Tan France in bright green shirt with Starbucks spring coffee packages and spring flowers on countertop

Get set for a spring refresh with tips from Tan France and spring coffee offerings from Starbucks.

Starbucks Partners with Tan France for a Spring Coffee Break

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There are seasons in life when we find ourselves transforming and growing in ways we never imagined possible.

The last time I felt on the precipice of such incredible transformation was the winter of 1983. I was on my way back to Seattle after countless hours walking the streets of Milan and immersing into the world of Italian-style espresso. I experienced a coffeehouse culture rich with the spirit of connection and community, and I was overflowing with inspiration to bring it to the United States. This dream transformed my image of what Starbucks could mean to people and transformed our brand into a global movement to inspire and nurture the human spirit—one person, one cup and one neighborhood at a time.

Transformation was Starbucks catalyst for growth, both for our business and for our purpose as a company. And our embrace of this growth mindset means that our quest for transformative inspiration is never ending—we must always be searching for new ideas, or old ideas that can be transformed into something exceptional.

Press

Laxman Letter to Partners: With Gratitude and Optimism

Starbucks Oleato Beverages Arrive at Select Stores in the U.S.

Message from Laxman to All Partners

Laxman Narasimhan Assumes Role of Starbucks Chief Executive Officer

‘You are the future of Starbucks’: Howard Schultz’ letter to leaders as he steps down

Starbucks Commits Over $50 Million to Sustainable Waste and Water Funds Toward a Resource-Positive Future

Starbucks Springs into the Season with New Cinnamon Caramel Cream Nitro Cold Brew

Starbucks Adds a Pop of Color to Spring with New Drinkware

Starbucks Partners with Tan France for a Spring Coffee Break

Message from Howard Schultz: Introducing Starbucks Oleato™

Introducing Starbucks Oleato – a Revolutionary New Coffee Ritual

Supporting our partners and communities affected by the earthquake in Türkiye (Turkey), Syria & surrounding regions