Starbucks, the world's largest chain of coffee shops, has unveiled a new, simpler logo.
The logo maintains the original graphic of a crowned woman with long flowing hair, but has removed the words ‘Starbucks' and ‘coffee'. The new logo is an attempt for the coffee giant to diversify and move beyond its core product of coffee.
Starbucks said that in the future "it's possible we'll have other products with our name on it and no coffee in it."
Starbucks is already moving ahead with plans to extend its product range, and now also sells ice-cream.
It is also considering selling beer and wine at some US outlets.
Mr Schultz said: "What is really important here is an evolutionary refinement of the logo, which is a mirror image of the strategy.
"This is not just, let's wake up one day and change our logo."
Starbucks already has partnerships with Apple, collaborating on selling music as part of the ‘coffeehouse experience' and MSNBC, the morning news program that is supposedly ‘brewed by Starbucks'. In 2005 Starbucks purchased Ethos, a brand of bottled water with the added incentive of donating $.05 from each $1.80 bottle sold.
The idea of expansion could be seen as a way to prevent previous financial woes, with Starbucks falling foul to exponential and speedy growth in the past.
Starbucks currently has 16,858 stores in over 50 countries, including 11,000 in the US, over a 1000 in Canada and 700 in the UK.
According to the BBC, This is the first time that Starbucks has changed its logo since it floated on the New York Stock Exchange in 1992.
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