Starbucks brings Princi to Seattle
The American coffee chain Starbucks is bringing the Princi brand to the United States. After last year’s investment in this bakery, which was founded in 1986 by Rocco Princi (pictured), the U.S. giant is opening the first bakery/café featuring the name of the Italian brand in Seattle, inside the Reserve Roastery & Tasting Room, Starbucks’ high-end coffee shop.
Products from Princi (which has five stores in Milan and one in London) will also be sold exclusively in Starbucks’ new Reserve Roastery & Tasting Rooms opening in Shanghai, Milan, New York, Tokyo and Chicago. There are also plans to open standalone Princi stores starting in 2018.
This agreement has led to the creation of an international joint venture, which also includes other partners, including Pekepan Investments and Angelo Moratti Angel Lab venture capital fund, which are already involved in Starbucks launch in Milan (expected to take place in 2018) along with Antonio Percassi’s business group.
This agreement was drawn up in 2016 as a collaborative effort. The Laways firm represented Angel Lab and Pekepan Investments, while the Carnelutti firm represented Rocco Princi and the Eversheds firm in London represented Starbucks.