Starbucks embraces the rainbow for Pride
Select language to see a machine translation of this article. The original language of the Article is English and the translation is provided for your convenience.

Starbucks embraces the rainbow for Pride

Starbucks is no stranger to a good cause. It’s ahead of the competition when it comes to paying its taxes and its staff, caring about the environment, and battling prejudice. The company reiterated these core values last week as a gold sponsor of Pride, the festival that celebrates acceptance of the LGBT movement. 240 Starbucks employees marched in the London parade on 8 July, demonstrating that Starbucks doesn’t just throw money at these things – it encourages its people to get on board too.

See how Starbucks celebrated Pride 2017

Maria Sebastian, Starbucks’ senior vice president of brand, said: "Diversity's always been a core part of our brand. We've always been known for creating welcoming and inclusive environments; whether it's in our stores or in the broader communities that we serve. So we're really excited to be in our third year as a gold sponsor for Pride of London."

Starbucks progressive morals might not appeal to everyone, but the company is resolute that ethics are at the heart of its business, and this is what it believes. It is also true, however, that it plays very well with the kind of customers the company relies upon. Millennials, the middle class, and urbanites, are all more likely to hold views accepting of diversity and championing environmentalism. And Millennials, certainly, have precedent for using those preferences to decide where they spend their cash.

Ultimately, there is no doubt that Starbucks is genuine in its embrace of progressive opinions. But there’s also no doubt that it’s good for business.

Disclosure

Dominion holds Starbucks in its Global Trends Managed Fund.


If you would you like to receive the Newsfeeds daily, please click here to sign up now!

Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
0.0/5 rating (0 votes)

Disclaimer
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.