A Joint Starbucks-Danone Greek Yogurt by 2014
Starbucks in July announced it will start selling its own brand of yogurt in its stores in 2014, with a goal to take the product to major grocery stores in 2015.
"Evolution Fresh, inspired by Dannon," implies who's actually manufacturing the product. The first half of the name comes from Starbucks' late-2011 acquisition of a juice company Evolution Fresh. The first product in Starbucks stores will be a Greek yogurt parfait.
The coffee chain, which seeks to be a supplier of branded groceries, announced the "strategic agreement to offer a jointly created and developed selection of new, healthy specialty yogurt products in participating Starbucks stores and in grocery channels," read a company statement "This will advance Danone’s ambition to expand yogurt consumption in the U.S., while growing Starbucks health and wellness offerings for its customers under the company’s Evolution Fresh brand."
Starbucks, of course, will get the products into its stores in spring 2014, and Danone will be responsible for bringing them to grocery channels in 2015. Distribution is planned to be extended to include targeted markets around the world in a second phase that builds upon the success of the U.S. initiative.
“With a fast-growing but still low penetration of the yogurt category, the U.S. remains a key growth opportunity for Danone,” said Danone CEO Franck Riboud. “The recent success of the Greek segment and our Oikos brand have confirmed the growing appeal of tasty and nutritious yogurts for U.S. consumers and established Dannon’s leadership in the market. We believe this attraction will be further enhanced by our new access to millions of consumers through distribution in Starbucks stores, as well as through the addition of an exciting new brand, Evolution Fresh, inspired by Dannon.”
The two companies also said they look for joint opportunities across other products and markets in the months to come. Financial terms of the agreement were not disclosed.