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Last week Starbucks announced it had finalized the sale of US$750 million of senior notes, which were issued at very favourable pricing in an underwritten public offering.
The company raised US$400 million of 0.875% Senior Notes of thirteen year money due 2016 and another US$350 million of 2.000% Senior Notes of fifteen year money due 2018.
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The funds raised will be used to help pay a portion of the US$2.76 billion arbitration award against them won by Kraft/ Mondelez last month, which Jewish Business News covered here : Starbucks To Pay $2.76 Billion To Mondelez International In Arbitration Ruling
BofA Merrill Lynch, J.P. Morgan and Morgan Stanley were the underwriters for the offering.
Then last week also Starbuck got a bit of the money back from its customers when on Friday, it issued an exclusive new limited-edition line of just 1, 000 rose gold tinted metal Starbucks gift cards.
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Howard Schultz – Starbucks Chairman and CEO/ Getty
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Starbucks Rose Gold Limited Edition Card
The new cards, which cost US$450 carry credits for US$400 at all Starbucks coffee shops, and they sold out in just a few minutes, or barely long enough to order up a cup of coffee with one.
This new limited card programme marks the second year Starbucks has issued the cards, in conjunction with high-end daily deal site Gilt.com.
“It took just seconds this year to sell out, which was phenomenal, ” said Alexis Maybank, Gilt Groupe co-founder and chief business development and strategy officer.
Each card comes with $400 preloaded and gold status in Starbucks’ existing loyalty program. The card sells for more than the merchandise value.
Linda Mills, a Starbucks PR person, said the price differential reflects the premium nature of the rose-gold card – and was a colour Starbucks selected for its exclusivity.
“It actually costs us more than $50 to produce this card, ” she said. “That’s what you’re paying for – the quality of the card itself.”
It may not have the utility of a quite similarly coloured rose gold iPhone 5s, also in hot demand this season, but if cups of coffee at Starbucks, are your thing it is a great way to feel good about it when you present your card to pay for them.
Now all we need is a remake of Goldfinger from Hollywood, and the renaissance of gold as the boldest in-your-face expression of luxury in marketing will be complete.
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Starbucks Rose Gold Limited Edition Card
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About Starbucks
Starbucks is an American global coffee company and coffeehouse chain based in Seattle, Washington. The company is the largest coffeehouse company in the world, with over 20, 000 stores in 62 countries worldwide.
Starbucks locations serve hot and cold beverages, whole-bean coffee, microground instant coffee, full-leaf teas, pastries, and snacks. Most stores also sell packaged food items, hot and cold sandwiches, and items such as mugs and tumblers.
Starbucks Evenings locations also offer a variety of beers, wines, and appetizers after 4 pm. Through the Starbucks Entertainment division and Hear Music brand, the company also markets books, music, and film.
Many of the company’s products are seasonal or specific to the locality of the store. Starbucks-brand ice cream and coffee are also offered at grocery stores. Starbucks has also been expanding into the direct supply of coffees and other premium products to grocery stores nationally.
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