"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."
"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 enters the fashion and beauty business Starbucks ( SBUX) has hired Neiv Toledano as its new Head of Fashion and Beauty for the Brand Activation team."
Starbucks experienced declining engagement after prioritizing rapid, transactional growth over emotional connection with loyal customers. Economic uncertainty, rising operational costs, inflation-driven reduced consumer spending, and shifting industry trends weakened financial performance and mirrored broader foodservice sector struggles. The company initiated the "Back to Starbucks" turnaround plan and enacted operational and strategic changes to address past mistakes. Starbucks expanded beyond coffee by creating a Head of Fashion and Beauty role and hiring Neiv Toledano to lead Brand Activation strategy and execution. The new role signals an increased focus on fashion and beauty collaborations and limited-time releases to reinvigorate the brand.
Read at Bellingham Herald
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