Starbucks Coffee Company (NASDAQ: SBUX) and (RED)™ today announced a multi-year partnership that will give coffee lovers a chance to do good every day. Through the partnership, launched as part of the Starbucks? Shared Planet? commitment to communities, a portion of the proceeds from special STARBUCKS (PRODUCT)RED products will go to the Global Fund to help save lives in Africa, a key coffee growing region for Starbucks.
Starting on November 27, 2008 and continuing through January 2, 2009, Starbucks will contribute five cents from the sale of any (STARBUCKS)RED EXCLUSIVE beverage* at all company-owned and licensed stores in the United States and Canada to the Global Fund to invest in AIDS programs in Africa.
Once (STARBUCKS)RED EXCLUSIVE Holiday beverages leave stores, the company will offer its customers the opportunity to make (RED) choices in their purchases every day.
"(RED) is making remarkable progress in the worldwide effort to address AIDS in Africa," said Howard Schultz, Starbucks chairman, president and ceo. "We have a deep partnership with coffee growing regions in Africa. We are proud to partner with our customers to contribute toward an AIDS-free Africa."
Schultz joined Bono, co-founder of (RED), for today's announcement in front of 10,000 Starbucks partners (employees) at the company's 2008 Leadership Conference in New Orleans.
"(RED) is coming to a corner near you thanks to Starbucks. I'm very excited to be able to say that," said Bono, co-founder of (RED). "The business of Starbucks with roots in Africa and branches all over the world is an ideal fit for (RED). It's pretty mind-blowing to think that millions of people can buy (RED) going about their daily lives and in doing so raise millions of dollars to fight AIDS in Africa. That's not a bad hit from your caffeine."
Starbucks partnership with (PRODUCT)RED reinforces the company's ongoing commitment to the people and communities that grow its coffee. This is a key component of Starbucks? Shared Planet?, the company's approach to doing business responsibly. Starbucks currently buys coffee from ten African countries including Burundi, Cameroon, Congo, Ethiopia, Kenya, Malawi, Rwanda, Tanzania, Uganda and Zambia. In 2009, Starbucks plans to open Starbucks Farmer Support Centers in Ethiopia and Rwanda.
About (RED) TM and (PRODUCT) RED™
(RED)'s primary objective is to engage the private sector in raising awareness and funds for the Global Fund, to help eliminate AIDS in Africa. Companies whose products take on the (PRODUCT)RED mark contribute a significant percentage of the sales or portion of the profits from that product to the Global Fund to finance AIDS programs in Africa, with an emphasis on the health of women and children. Current partners are: American Express (U.K. only), Apple, Converse, Gap, Emporio Armani, Hallmark, Dell, Windows and Starbucks. Since its launch in the Spring of 2006, more than $112 million has been generated by (RED) for the Global Fund. (RED) money is at work in Swaziland, Rwanda, Ghana and Lesotho. For more information, visit www.joinred.com
About the Global Fund
Since its creation in 2002, the Global Fund has become the dominant financer of programs to fight AIDS, tuberculosis and malaria, with approved funding of US$11.5 billion for programs in 136 countries. The Global Fund supports programs based on agreed performance targets and disburses money in response to proven results. So far, programs supported by the Global Fund have averted more than 2.5 million deaths by providing AIDS treatment for 1.75 million people, TB treatment for 3.9 million people, and by the distribution of 59 million insecticide-treated bed nets for the prevention of malaria worldwide.
(RED)TM is the Global Fund's largest private sector contributor.
*The (STARBUCKS)RED EXCLUSIVE beverages are Peppermint Mocha Twist, Gingersnap Latte and Espresso Truffle only at participating locations.