World's biggest coffee chain. In August 2024 Brian Niccol, formerly boss of Chipotle Mexican Grill, was named chief executive, replacing Laxman Narasimhan. Niccol's "Back to Starbucks" strategy aims to return stores to being a "third space" where customers want to spend time, with comfy seating, ceramic mugs and "condiment bars" offering dairy-free milk at no extra charge.
Starbucks has simplified its menu by culling 30% of items and pared back efforts to use technology to help make drinks, hiring more baristas instead. Same-store sales had fallen for five consecutive quarters by the first quarter of 2025.
In November 2025 Starbucks sold 60% of its China business to Boyu Capital, a local private-equity firm co-founded by a grandson of Jiang Zemin, a former paramount leader. One of its woes in the Chinese market has been the emergence of Luckin Coffee, a Chinese firm that now has three times as many coffee shops in the country as Starbucks, Costa and Peet's, two other Western chains, combined.
Starbucks imports coffee from countries including Brazil and Vietnam. Howard Schultz, the company's on-again, off-again boss over the past few decades, warned in 2024 that there were "no quick fixes" for its troubles. Schultz himself made more comebacks than a stand-up comedian: he originally built Starbucks, then returned repeatedly as CEO to try to right the ship.
Show me a sane man and I will cure him for you.