Will Starbucks Soda Be a Hit?
If Starbucks (NASDAQ:SBUX) has it their way, it will soon be just as common to walk into a Starbucks store and order handcrafted soda as it is to walk in and order a venti coffee.
At the moment, the handcrafted sodas are only available in stores in Atlanta and Austin. The sodas are made using a carbonation machine and currently come in several flavors such as lemon ale, spiced root beer, and ginger ale. While prices vary by market, the sodas will be priced somewhere around $2.45 for a tall, $2.95 for a grande, and $3.45 for a venti.
Starbucks is interested in pushing its brand beyond coffee products, and the new soda products represents one such move. In 2011, Starbucks dropped the words “Starbucks coffee” from its logo, and the company has been focused on extending the brand so that it is known for drinks other than coffee.
In 2011, Starbucks bought Evolution Fresh Inc., a juice making company, for $30 million. In 2012, Starbucks bought Teavana Holdings Inc, a tea retailer, for $620 million along with Bay Bread, which is the operator for La Boulange bakeries.