Starbucks Corporation is moving forward with a new genre of coffee: a line of beverages infused with olive oil.
The drinks debuted Wednesday at the company’s 25 outlets in Italy and were inspired by a trip to Siciliy by chief executive Howard Schultz, according to a statement from the company.
Next, they’ll come to US markets starting with California this spring.
Schultz believes these drinks called Oleato, meaning “with oil”, could be a game-changer. Each will have about a tablespoon of olive oil in it, including a latte, golden foam cold brew and iced shaken espresso.
“This is a transformational moment in the history of our company creating a new category, a new platform,” Schultz said on CNBC’s Mad Money.
In addition to the coffee, Starbucks is also launching an Oleato espresso martini, which will be available in select locations in Italy, along with Seattle and New York.
The move comes as Starbucks tries to combat declining global sales, driven in part by Covid-19 cases in China hurting that market.
Schultz and company hope adding a little olive oil will do the trick.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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