By 1992, Starbucks had over 135 outlets with annual sales of $72 million. It went public the same year. Starbucks acquired The Coffee Connection in 1994, gaining the rights to make, use, advertise, and sell the Frappuccino beverage. In 1996, Starbucks began opening stores outside North America, becoming the largest coffeehouse chain in the world. That same year, the company partnered with Dreyer's Grand Ice Cream, Inc. to produce and sell Starbucks Ice Cream.
Eight years later, the product became the leading coffee ice cream in the United States. Starbucks' market capitalization in 1996 was approximately $271 million. Howard sold 12% of the company for $25 million to raise capital to open more stores over the next two years. In 1997, Starbucks' revenues approached $1 billion, while net income was $57.4 million. In 1998, Starbucks acquired Seattle Coffee Company, a British-based company, for $83 million.
2000-2019: Howard stepped down as CEO in 2000 but remained chairman. The company opened self employed data stores in Austria and Switzerland and introduced coffee purchasing guidelines in 2001. Starbucks launched SCTC (Starbucks Coffee Trading Company) in Lausanne in 2002 and began selling food in its stores in 2003.
Italia for $72 million. In 2006, Starbucks launched its first paper beverage cup and opened its first store in Russia in 2007. That same year, the company eliminated all artificial trans fats and adopted 2% milk as the new standard for espresso drinks. Starbucks acquired Coffee Equipment Company, the maker of the Clover brewing system, in 2008 and cut massive jobs outside of retail to strengthen the brand and increase profits.
It acquired Seattle's Best Coffee and Torrefazione
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