Starbucks partners with Italian bakery
STARBUCKS on Wednesday announced a financial investment and global licensing deal with Princi, an artisanal bakery in Milan, Italy.
As part of the investment, standalone Princi cafes will be set up by Starbucks around the world.
The first is planned for Seattle next year.
Princi will also become the exclusive food purveyor operating within Starbucks' upcoming showcase roastery locations, starting in Shanghai and New York.
Separately, Princi will provide food for new Starbucks cafes that serve only premium small-lot "reserve" coffee. That new cafe concept is slated to debut next year.
Starbucks bought California-based La Boulange bakery owner Bay Bread Group for US$100 million (S$134.6 million) in 2012 and opened nearly two dozen bakeries under that name.
But the coffee giant closed those stores and two related manufacturing plants last year, saying they were not sustainable for its long-term growth.