Over on BeyondDigitalMedia, Chris Bishops posted an interesting examination of the challenges Starbucks has faced in the Australian market and goes on to predict that Gloria Jeans will suffer a similar fate.
Although the US closures represent a far smaller proportion of total outlets than here in Australia, they still represent a striking turnaround in the previously relentless growth of the coffee giant. Could this presage a significant change in the fortunes of one of the darlings of the MBA set? Or is it simply the evolution from growth to maturity?
The Evolution of Starbucks
I have to thank Mike for the data in this chart, which was painstakingly extracted from the Starbucks company timeline. The 2008 figure takes into account the 616 US closures (exact figure taken from the full list of closures) and the 61 Australian closures. Admittedly, since the timeline accentuates the positive, there may be past closures not accounted for in the chart. Also, any new store openings in 2008 are not accounted for.