Starbucks

EXECUTIVE SUMMARY

Starbucks became the fourth Founding Partner of LA28 in September 2025, serving as the Official Coffee Partner of the LA28 Olympic and Paralympic Games and Team USA. This marks Starbucks' first-ever Olympic and Paralympic sponsorship at any level. The partnership extends to NBCUniversal's multi-platform coverage, where Starbucks will be the exclusive coffee advertiser during the Milano Cortina 2026 and LA28 broadcasts.

The timing is significant. Starbucks announced the partnership just one year into CEO Brian Niccol's tenure, during the early stages of his "Back to Starbucks" turnaround strategy. Niccol, who joined from Chipotle in September 2024, has focused on operational efficiency, menu simplification, and reconnecting with the brand's coffeehouse roots. The Olympic partnership aligns with this brand-restoration narrative: Starbucks plans to build a specially designed coffeehouse inside the Olympic and Paralympic Village, serve athletes and spectators across competition venues and volunteer hubs, and position its green-apron baristas as the human face of the Games experience.

With more than 1,000 stores in the Greater Los Angeles area and nearly 35 years of presence in the region, Starbucks has strong local infrastructure to activate. The partnership also supports LA28's push toward its $2.5 billion domestic sponsorship revenue target, with Starbucks joining as the fourth highest-tier partner in a four-month span alongside Honda (June 2025).

1. OLYMPIC HISTORY & MARKETING PRESENCE

1.1 Partnership Timeline & Evolution

Starbucks has no prior Olympic or Paralympic sponsorship history. The September 2025 announcement is the company's first involvement with the Olympic movement.

Sports Marketing Context

Starbucks has historically avoided major sports sponsorships, preferring to build its brand through: - Store-level community engagement - Seasonal product launches and limited-time offerings - Cultural partnerships (music, arts, social impact) - Digital loyalty and mobile ordering

The Olympic partnership represents a strategic departure from this approach, signaling Niccol's willingness to invest in large-scale brand-building platforms. At Chipotle, Niccol oversaw successful sports marketing campaigns, suggesting he sees value in athletic association that prior Starbucks leadership did not pursue.

1.2 Signature Programs

All programs are new as of the September 2025 partnership:

• Olympic Village Coffeehouse: Custom-designed Starbucks location inside the Village, staffed by expert green-apron baristas, serving athletes during the Games
• Venue and Hub Presence: Starbucks coffee service at competition venues, volunteer hubs, and other Games locations
• NBC Advertising Exclusivity: Sole coffee advertiser across NBCUniversal's Olympic broadcast platforms for Milano Cortina 2026 and LA28

2. LA28-SPECIFIC INITIATIVES

2.1 Announced Plans & Positioning

• Olympic and Paralympic Village Coffeehouse: A specially designed location intended to "foster moments of connection and community." This positions Starbucks as providing a social gathering space for athletes, not just a caffeine service. The Village coffeehouse echoes the "Third Place" concept that has defined Starbucks' brand identity since Howard Schultz's era.
• Competition Venue Service: Starbucks coffee at Games venues, extending the brand presence from athlete-facing to spectator-facing environments
• Volunteer Hub Support: Coffee service for the 25,000+ volunteers, associating the brand with the community service dimension of the Games
• "The Coffee Run" ad debut (Milano Cortina 2026): Starbucks' first Olympic advertising, created by Anomaly and directing duo Julian & Quentin, premiered during the Milano Cortina 2026 Opening Ceremony on February 6, with additional placements before and after the Super Bowl. The cinematic ad reimagines a coffee run as an epic Olympic-scale journey through a snowy mountain town, featuring Team USA athletes Amber Glenn, Elana Meyers Taylor, Oksana Masters, and Aaron Pike. Adweek described it as "an Olympic and Italian-inspired love letter to the coffee run."
• Iced Brown Sugar Honey Americano: New app-exclusive "hidden" drink launched for the Winter Olympics, combining Starbucks Blonde Espresso, honey, and brown sugar cold foam with cinnamon.
• NBC Exclusivity: Category-exclusive coffee advertising across NBCUniversal's national Olympic and Paralympic coverage, with access to premium storytelling opportunities

LA28 Venue Context: The Games will use 40+ competition venues across the LA metro area, with a dual-venue Opening Ceremony shared between the LA Memorial Coliseum and SoFi Stadium (announced May 2025). LA28 will be the first Games since 1948 built entirely on existing infrastructure. Starbucks' existing store density in Los Angeles (one of its highest-concentration markets globally) provides a natural venue-adjacent activation footprint. The LA28 Volunteer Program (presented by Delta Air Lines), with monthly Shine LA community activations, provides additional touchpoints for Starbucks' volunteer hub coffee service. The Games dates (July 14-30 for Olympics; August 15-27 for Paralympics) coincide with peak iced beverage consumption.

2.2 Regulatory/Market Context

The Starbucks partnership arrives during a period of brand reset. After consecutive quarters of declining comparable store sales under the prior CEO, Niccol's "Back to Starbucks" strategy has delivered the company's first positive global comp growth in seven quarters (Q4 FY2025). The Olympic partnership provides a premium brand-building platform during this recovery period.

Key context: - Unionization: Starbucks Workers United has organized hundreds of U.S. stores. The Olympic Village coffeehouse and venue locations raise questions about whether these will be staffed by union or non-union partners (baristas), though Starbucks has not addressed this publicly. - Store Closures: The "Back to Starbucks" restructuring closed 627 stores in Q4 FY2025 as part of a portfolio optimization. The Olympic investment signals confidence that cost-cutting and brand investment can coexist. - Agency Transition: Starbucks changed creative agencies twice in rapid succession (WPP in October 2024, then Anomaly in January 2025), suggesting the Olympic creative strategy is being developed under a still-new agency relationship.

3. EXECUTIVE LEADERSHIP & DECISION-MAKERS

3.1 C-Suite Leadership

• Brian Niccol: Chairman and Chief Executive Officer since September 2024. Previously CEO and Chairman of Chipotle (2018-2024), where he led a significant turnaround. Named "Best CEO in America" by Adweek. Total compensation in 2025: $31 million (down from $96 million in 2024, which included one-time hiring incentives). Niccol has described his turnaround as getting Starbucks "back to being a community coffeehouse," a message directly reinforced by the Olympic Village coffeehouse activation.
• Tressie Lieberman: Global Chief Brand Officer (newly created role). Hired by Niccol to lead brand strategy, including the Olympic partnership activation. Previously held marketing roles at Chipotle under Niccol.

3.2 Olympic Partnership Leadership

Specific individuals managing the day-to-day Olympic partnership beyond Niccol and Lieberman have not been publicly identified. The Global Chief Brand Officer role was created in part to oversee large-scale brand partnerships of this nature.

3.3 Board Members with Relevant Experience

• Mellody Hobson: Board member. President and Co-CEO of Ariel Investments; also serves as Chair of the Board of Starbucks. Previously chaired DreamWorks Animation board.

4. AGENCY & CREATIVE PARTNERS

4.1 Agency Model

Starbucks recently consolidated U.S. creative duties under a single external agency after a period of rapid transition.

4.2 Known Agency/Partner Relationships

• Anomaly (New York): Current U.S. creative agency, appointed January 2025. Clients include Coca-Cola and YouTube. Developed the "Hello Again" campaign that reintroduced the brand as "The Starbucks Coffee Company," signaling a return to coffeehouse fundamentals. Anomaly is likely leading Olympic creative development.
• WPP (Bespoke Unit): Brief predecessor arrangement (October 2024 - January 2025). Assembled a multi-agency team under the WPP network, but the relationship was replaced by Anomaly within months.
• We Are Social: Lead strategic and creative agency for social media (global appointment)

4.3 Notable Creative Executions

• "Hello Again" Campaign: Anomaly's debut campaign for Starbucks, reintroducing the brand with its full name "The Starbucks Coffee Company." The campaign's nostalgic, back-to-basics tone aligns with the Olympic Village coffeehouse concept.
• Olympic-specific creative has not yet been released. First advertising will appear during Milano Cortina 2026 broadcasts.

5. COMPETITIVE POSITIONING

5.1 Market Share & Competitive Landscape

Starbucks operates approximately 40,990 stores globally (as of Q4 FY2025) and dominates the U.S. specialty coffee market. Key competitors include: - Dutch Bros: Fast-growing drive-through chain, primarily Western U.S. - Dunkin' (Inspire Brands): Mass-market coffee competitor - Blue Bottle, Peet's, and independent specialty coffee: Premium segment competitors - McDonald's McCafe: Value-positioned competitor

No competing coffee brand holds an Olympic or LA28 partnership, giving Starbucks category exclusivity. None of these competitors operate at the scale or brand recognition level required for Olympic partnership.

5.2 Olympic Sponsorship Differentiation

Starbucks is the only food/beverage brand among LA28's Founding Partners (Coca-Cola holds the global IOC TOP partnership in the non-alcoholic beverages category, but Starbucks' coffee-specific category is distinct). The Village coffeehouse concept is a unique activation: rather than signage or advertising, Starbucks is providing a physical social space and human-staffed service experience inside the most exclusive area of the Games. This operational integration distinguishes Starbucks from most Founding Partners, whose activations are primarily brand-driven rather than service-driven.

5.3 Key Brand Messaging

• "The Starbucks Coffee Company": Full brand name reintroduction under Niccol signals a return to coffee expertise
• Community Coffeehouse: Olympic Village location embodying the "Third Place" concept
• Human Connection: Green-apron baristas as the face of the Starbucks Olympic experience, consistent with Niccol's emphasis on in-person service
• Los Angeles Roots: 35+ years and 1,000+ stores in Greater LA, positioning Starbucks as part of the city's fabric

6. KEY METRICS & BUSINESS CONTEXT

6.1 Financial Performance

• FY2025 Q4 Revenue: $9.6 billion (5% YoY increase)
• FY2025 Q3 Revenue: $9.5 billion (4% increase)
• FY2025 Q2 Revenue: $8.8 billion (2% increase)
• FY2025 Q1 Revenue: $9.4 billion (flat YoY)
• FY2025 Full Year Trend: Sequential improvement through the year, reflecting Niccol's turnaround impact
• Global Comparable Store Sales: Returned to positive growth in Q4 FY2025 (+1%), first positive comp in seven quarters
• Store Count: 40,990 stores globally (net 107 closures in Q4; 627 closed as part of restructuring)
• FY2026 Guidance: Adjusted EPS of $2.15-$2.40; global and U.S. same-store sales growth of at least 3%
• Market Capitalization: ~$105 billion (February 2026)
• Stock: SBUX (NASDAQ)

6.2 Olympic Period Performance

No prior Olympic sponsorship performance data. The Milano Cortina 2026 Winter Games will be Starbucks' first Olympic advertising activation, with LA28 as the primary strategic target.

APPENDIX: KEY SOURCES

Official Sources

• Starbucks Press: about.starbucks.com/press
• Starbucks Investor Relations: investor.starbucks.com
• LA28 Official Partners: la28.org/en/our-partners.html
• USOPC Announcements: usopc.org

Industry Analysis

• Sportico: "LA28 Adds Starbucks as Founding Partner in Push Toward $2.5B Goal"
• The Sports Examiner: "Sales momentum surges as Starbucks joins as Founding Partner"
• Global Coffee Report: Starbucks Olympic Partnership Coverage
• CNBC: Starbucks Turnaround Coverage

Financial Filings

• Starbucks Q4 FY2025 and Full Year Results
• Starbucks Q3 FY2025 Earnings Report

End of Research Brief