US Markets
Monday, January 29th, 2024 5:36 pm EDT
Key Points
- Starbucks is introducing olive oil-infused drinks called Oleato in all its U.S. stores.
- Oleato made its debut in Italy in February 2023, inspired by former CEO Howard Schultz’s observation of locals incorporating olive oil into their daily drinks.
- The line includes a latte and an iced espresso drink, as well as Oleato Golden Foam—a vanilla sweet cream infused with Partanna extra virgin olive oil. Despite initial negative reviews in select U.S. Starbucks stores, the company is expanding the nationwide launch.
Starbucks is introducing its olive oil-infused drinks, named Oleato, across all U.S. stores, starting Tuesday. The beverages initially launched in Italy in February 2023 after former CEO Howard Schultz observed locals incorporating olive oil into their daily drinks. Following the Italian debut, the olive oil-infused coffee drinks were introduced in select U.S. Starbucks stores the next month, receiving mixed reviews, with some early critics describing the flavor as reminiscent of “a large spoonful of olive oil in coffee.” Oleato, which means “with oil” in Italian, comprises a latte and an iced espresso drink. The lineup also includes Oleato Golden Foam, a vanilla sweet cream infused with Partanna extra virgin olive oil, available as an addition to any Starbucks beverage. Starbucks plans to offer four suggested customizations for the foam through its app. This launch aligns with Starbucks’ efforts to maintain sales growth in its North America unit, particularly as its shares have experienced a more than 3% decline this year. The move is part of Starbucks’ strategy to diversify its menu offerings and cater to evolving consumer preferences. The company is set to report its fourth-quarter earnings on the same day as the Oleato nationwide launch.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/01/29/starbucks-oleato-olive-oil-drinks-launch-across-the-us.html
