Economy

Starbucks Has a New Way to Get More of Your Money

Starbucks Has a New Way to Get More of Your Moneyā€¯

From the time the bakery opens at 7 a.m. until almost 11 p.m. when it closes, Princi's three Wenz deck ovens from Germany will radiate non-stop, ideally ensuring the Roastery's custom-roasted coffees are accompanied by warm, hearty loaves and tender, flaky cornetti (Italian croissants) whenever customers arrive.

Inside its Princi's first commercial kitchen, an 11,000-square-foot space adjacent to Starbucks headquarters, bakers make dough, chop vegetables and prepare ingredients, including some imported from Italy, for thrice-daily delivery to the Roastery less than four miles away, where cornetti (the Italian version of a croissant), pizza and bread made from owner Rocco Princi's recipes are baked in one of three huge pizza ovens. Salads, breakfast sandwiches, desserts, and a full bar serving Aperol spritz and more drinks completes the fancy upgrade. The menu will shift throughout the day.

"Rocco Princi (founder of Princi) is an artisan who, at an early age, discovered a love of bread making and through determination as well as an obsession for finding the flawless ingredients, has created an Italian food experience that I think is unparalleled", said Howard Schultz, executive chairman, Starbucks. But the average transaction in the Seattle Roastery - a tourist destination - is $20, compared with $5 at a traditional Starbucks, Mr. Schultz said.

For now, the Princi menu will only be available at the Roastery in Seattle. Rocco said he turned down a number of partnership offers from Italian coffee giants over the years because he anxious they'd force him to compromise his commitment to high-quality ingredients and hands-on practices.

The signature Princi sourdough loaf.

The company, he said, is spending "tens of millions of dollars" on the venture that it announced past year involving the Princi bakeries, though he declined to give more specific details.

Last July, Starbucks announced that it would become an investor in Princi, aiming to expand it far beyond its five locations in Milan and one in London, without actually acquiring the business outright. Standalone Princi bakeries are also on their way, with Starbucks teasing that the first will appear in either Seattle, New York City, or Chicago in 2018.

As these new Roastery locations open, Princi will be the exclusive food provider.

Eater.com has more details about the partnership between Princi and Starbucks.



Like this

Latest


07 November 2017
Man snapped woman's neck after she refused marriage proposal, cops say
It was there that Tucker reportedly alerted authorities that he had committed a heinous crime at his home in Albany Township. The teenager told Tucker "no" and revealed to him that she was having sex with other men, police said.

07 November 2017
Turquoise Hill Resources Ltd (TRQ) Receives Average Rating of "Buy" from Brokerages
Bank Of Nova Scotia Trust Company sold 61,043 shares as Rogers Communications Inc (RCI)'s stock rose 4.21%. RBC Capital Markets maintained it with "Buy" rating and $6400 target in Thursday, July 13 report.

07 November 2017
Vodafone launches data carry forward facility, free Netflix with new Red plans
The Rs. 1,299 and Rs. 1,699 plans give 100 global minutes and the Rs. 1,999 plan offers 200 minutes of worldwide calls. The RED Signature Rs. 2,999 plan gives 200 global minutes and there's no limit for local and national calls.

07 November 2017
Orient Paper and Industries posts Q2 Net at Rs 21 cr
Just Dial Ltd is now trading at Rs 450, down by Rs 27.95 or 5.85% from its previous closing of Rs 477.95 on the BSE. For the Q2, the company reported a small rise in revenue by 2% QoQ to Rs 194 Cr.

07 November 2017
John Cena to referee in Brock Lesnar, Jinder Mahal match?
However, that match has been scrapped and now it will be Styles challenging Mahal for the WWE Championship on Smackdown . Cena is now filming a movie and WWE Survivor Series is expected to be his first date back.

07 November 2017
Tyronn Lue says Cavaliers should be embarrassed
The Cleveland Cavaliers dropped the fifth of their last six games as they fell to the 2-8 Atlanta Hawks on Sunday, 117-115. John Collins contributed 12 points and a game-high 13 rebounds for the Hawks (2-8), while Schroder dished out nine assists.

07 November 2017
Analysts Anticipate Netflix, Inc
The company holds a market cap of 86.3B with a P/E of 202.56 indicating whether its share price properly reflects its performance. Following the transaction, the chief executive officer now directly owns 93,380 shares in the company, valued at $15,507,616.60.

07 November 2017
Heavy Rain, High Winds Force Malaysians to Flee
On the island, it was mostly in the usual flood prone areas of George Town , Jalan P. For the time being, he said the priority was still on rescuing flood victims.

07 November 2017
Liberty Media Corporation - Series A Liberty Formula One
Liberty Media Corporation - Series A Liberty Formula One (NASDAQ:FWONA) has risen 61.94% since November 7, 2016 and is uptrending. Hosking Partners LLP owned 0.12% of Liberty Interactive Group worth $11,490,000 at the end of the most recent quarter.

07 November 2017
Mary Kom enters final beating Japan's Tsubasa Komura
Both Mary Kom and Komura began defensively with the Japanese boxer hardly attacking forcing the Indian to take a few risks. However, on Tuesday, the gutsy lady from Manipur found herself just a step away from her fifth Asian Championships gold.



Recommended