USA: Starbucks, The New York Times Form Strategic Relationship
Starbucks Coffee Company (Nasdaq:SBUX), the leading retailer, roaster and brand of specialty coffee in the world, and The New York Times, one of the world's most widely read and respected newspapers, announced today a strategic alliance that leverages Starbucks retail strength with The New York Times's strong national presence. Under this three-year agreement between two of the most well-known and respected brands in the world, The New York Times will use its national advertising resources to promote Starbucks products and retail locations as a destination for readers. Although other newspapers will continue to be offered to meet local demand, The New York Times will be the only national newspaper sold across Starbucks extensive network of company-owned locations in the United States. The New York Times's presence in Starbucks stores across the country will make a significant contribution to the newspaper's national expansion by improving availability for the 11 million customers who visit Starbucks stores weekly. The agreement is effective October 1, 2000. This alliance will enhance Starbucks customers' in-store experiences, increase availability of The New York Times and promote the Starbucks and New York Times brands. The partnership will heighten customer service and convenience in the following ways:
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