Caribou Coffee presentation

Caribou Coffee - Caribou Coffee Company Inc by Sarah Anderson Life is short Stay awake for it Introduction Caribou Coffee Company Inc(Caribou

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Unformatted text preview: Caribou Coffee Company, Inc. by: Sarah Anderson Life is short. Stay awake for it. Introduction Caribou Coffee Company, Inc. (Caribou Coffee), a subsidiary of Caribou Holding Company Limited, is one of the largest coffeehouse operators in the US. The company is engaged in providing gourmet coffee and espresso-based beverages along with specialty teas, baked goods, whole bean coffee, branded merchandise and related products. The company operates through three segments: Retail Coffeehouses, Commercial and Franchise. The company makes its products available through club stores, grocery stores, mass merchandisers, office coffee providers, airlines, hotels, sports and entertainment venues, college campuses and other commercial customers. The company also allows the use of Caribou Coffee brand by third parties on quality food and merchandise items, through license. The company had about 413 owned coffeehouses and 123 franchised and licensed locations as of April 2010. Caribou Coffee is headquartered at Minneapolis, the US. Caribou Culture & Values Founders of Caribou Caribou Coffee was founded in December of 1992 by Kimberly and John Puckett. The Caribou Coffee concept was created after the company's founders backpacked through Alaska. On the summit of Sable Mountain in Denali Park, they decided they wanted to build a company to capture the spirit of accomplishment they felt during the climb. They began plans to build a special company that would bring the mountain experience into local neighborhoods where customers could find a place to "escape the daily grind" each and very day. On the descent, they saw a herd of wild caribou. The beauty and incessant movement of these caribou seemed to be a fitting name for a company that aspired to both rapid growth and high quality. The company was founded with the intent of building a leading national specialty retailer in the high growth industry of gourmet coffee. As Kim managed the personnel aspects of the stores, John tended to coffee quality, real estate acquisition, and finances. A fourth self-managed private placement brought in $7.3 million in the spring of 1994. Some of the new capital was earmarked for expansion into a new market: Atlanta. Tennessee-native John Puckett planned to capitalize on his knowledge of the Southeast, just as they had used Kim's knowledge of the Midwest as they built their Twin Cities market. Bringing ten stores into operation in a relatively short period of time gave the couple ample learning opportunities. For example, they discovered downtown Minneapolis shops pulled in morning customers but slacked off over the rest of the day, thus proving to be poorer performers than the neighborhood shops. To facilitate growth the company made some internal adjustments, including the establishment of a central roasting facility and the hiring of a chief financial officer. Competitors Caribou Coffee's main two retail coffee competitors: Starbucks is the leading retail coffee business in America...
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This note was uploaded on 05/11/2011 for the course ECON 2000 taught by Professor Paulkivi during the Spring '11 term at Bemidji State.

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Caribou Coffee - Caribou Coffee Company Inc by Sarah Anderson Life is short Stay awake for it Introduction Caribou Coffee Company Inc(Caribou

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