Starbucks and Danone to partner for yoghurt products in US
Global coffee retailer Starbucks Coffee Company and dairy manufacturer Danone have announced a joint venture to develop a selection of new specialty yoghurt products to be sold in participating Starbucks stores and in grocery channels in the US.
A new portfolio of ready-to-eat Parfait Greek yoghurt products, under Starbucks’ ‘Evolution Fresh’ brand, will be available in US stores from early 2014, and in Danone grocery channels in 2015. The Companies said they plan to extend distribution around the world in a second phase, should the US initiative be successful.
“Starbucks is committed to evolving and enhancing our customer experience with innovative and wholesome food offerings,” said Howard Schultz, Starbucks Chairman, President and Chief Executive Officer. “We are energised by the strong customer response to Evolution Fresh offerings, and believe a strategic agreement with Danone, the world leader in fresh dairy products, affords us the opportunity to grow – and elevate – the Evolution Fresh brand both in our stores and in CPG channels,” he said.
Danone said it still had a low penetration of the US yoghurt category, and that the US remained a “key growth opportunity” for the Company’s US brand, Dannon.
“The recent success of the Greek segment and our Oikos brand have confirmed the growing appeal of tasty and nutritious yoghurts for US consumers and established Dannon’s leadership in the market,” said Franck Riboud, Danone Chief Executive. “We believe this attraction will be further enhanced by our new access to millions of consumers through distribution in the Starbucks stores, as well as through the addition of an exciting new brand, ‘Evolution Fresh, Inspired by Dannon’,” he said.
Beyond this initiative, Starbucks and Danone said they would seek additional ways to leverage joint opportunities across other products and markets in the months to come.
The financial terms of the agreement were not disclosed.