'Magic' is Brewing at Howard University
Starbucks Coffee Company and Johnson Development Corporation Celebrate
Their First Joint Venture Starbucks in the District of Columbia
Earvin 'Magic' Johnson and Starbucks Chairman Howard Schultz to Address
Howard University Business Students Prior to Grand Opening Event
WASHINGTON, Nov. 7 /PRNewswire/ -- On Friday, November 8, Earvin "Magic" Johnson, chairman and CEO of Johnson Development Corporation (JDC), will team up with Howard Schultz, chairman of Starbucks Coffee Company, to celebrate the opening of the first Starbucks/JDC joint venture store in the District of Columbia. The store, which opened on October 15, 2002, is located at 2225 Georgia Avenue, NW at Howard University. Johnson and Schultz will address Howard University business students at the School of Business, located at 2600 Sixth Street, NW at 9:30 a.m. A grand opening event for all students and members of the community will take place at 12:15 p.m. The celebration will include a formal speaking program and ceremonial toast. "Our partnership with Starbucks allows us to bring quality products and services to ethnically diverse communities, as well as establish job opportunities for members of these communities," said Johnson. "We are confident that the Howard University store will create a positive work environment and provide a place where neighbors and students can gather and enjoy great coffee and conversation." "Starbucks and JDC both take pride in enriching the communities in which we do business," said Schultz. "In addition to providing a gathering place for coffee and conversation, we work with local non-profit organizations to develop long-term relationships that will benefit the community." In February 1998, Starbucks and JDC formed Urban Coffee Opportunities, LLC (UCO), a joint venture to enhance the development of Starbucks retail stores in ethnically diverse neighborhoods across the country. Starbucks and JDC both recognized there was a segment of the market that could support further economic development of major high-end retailers. As a result, the two companies began discussions on how they could work together to open Starbucks locations in these communities. This endeavor combines the retail strength of Starbucks with JDC's knowledge of real estate in key metropolitan markets. The Howard University coffeehouse is one of 37 UCO locations throughout the United States. "Howard University is our first joint venture location in the District of Columbia. We are proud to have opened a store in this key community," said Ken Lombard, president of JDC. "Through our relationship with Starbucks, we will continue to make a difference in communities throughout the country." JDC, a company formed in 1994 by Johnson, is comprised of five separate companies, each functioning independently to serve as a business stimulus, foster local economic growth and create financial empowerment in long neglected minority urban and suburban neighborhoods. JDC develops entertainment complexes, restaurants, coffeehouses and retail centers. The development projects provide jobs and employ local minority contractors in the communities in which they operate. Starbucks Coffee Company is the leading retailer, roaster and brand of specialty coffee in the world, with more than 5,000 retail locations in North America, Latin America, Europe, the Middle East and the Pacific Rim. The company is committed to offering the highest quality coffee and Starbucks Experience while conducting its business in ways that produce social, environmental and economic benefits for communities in which it does business. In addition to its retail operations, the Company produces and sells bottled Frappuccino(R) coffee drinks, Starbucks DoubleShot(TM) coffee drink, and a line of superpremium ice creams through its joint venture partnerships. The Company's other brands enhance the Starbucks Experience through best-of-class products: Tazo Tea Company offers a line of innovative premium teas, and Hear Music produces and distributes a line of exceptional compact discs. Make Your Opinion Count - Click Here http://tbutton.prnewswire.com/prn/11690X64680300
SOURCE Starbucks Coffee Company
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