"Starbucks has faced mounting challenges after decades as a seemingly untouchable coffee giant, in part due to its heavy focus on transactional growth at the expense of loyal customers who helped make it an iconic brand. "In trying to scale faster, Starbucks has drifted away from the emotional core that built its global following," Amazon Business Analyst Saswat Sidhant Prusty told Coffee Intelligence. External pressures, including economic uncertainty, rising operational costs, a slowdown in consumer spending due to inflation, and ever-evolving industry trends, have also impacted the company's overall financial performance, mirroring the struggles faced by the broader foodservice sector."
"After learning from its missteps, Starbucks has begun implementing significant changes across its business through the "Back to Starbucks" turnaround plan, aiming to rectify its mistakes. This time, however, the company is making a surprising move by expanding into an unexpected category that has nothing to do with coffee. Starbucks ( SBUX) has hired Neiv Toledano as its new Head of Fashion and Beauty for the Brand Activation team."
Starbucks faced mounting challenges after decades as a coffee giant due to a heavy focus on transactional growth that neglected loyal customers. External pressures such as economic uncertainty, rising operational costs, slower consumer spending from inflation, and changing industry trends weakened financial performance and mirrored broader foodservice sector struggles. The company launched the "Back to Starbucks" turnaround plan to address those missteps. Starbucks expanded beyond coffee by creating a Head of Fashion and Beauty role and hiring Neiv Toledano for Brand Activation. Toledano's background includes brand marketing at E.l.f. Beauty and social media management at Chipotle, signaling potential increases in fashion and beauty collaborations, particularly in international markets.
Read at Miami Herald
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