02/16/2009 (11:45 pm)
Starbucks brews up instant coffee concept
No time to cruise the drive-thru or wait for a pot of drip to brew? Don't worry, Starbucks Corp. is planning to offer a new instant coffee product.
This week, the Seattle-based coffee retailer will go on the road to New York and other cities, bringing with it the company's latest product, which Starbucks said that it has been working on for 20 years.
In a memo sent to Starbucks (Nasdaq: SBUX) employees, Vivek Varma, Starbucks senior vice president of public affairs, said the product could be in stores by Feb. 18.
Varma said this won’t be your father’s instant coffee instant payday loan. She said Starbucks has developed technology to “absolutely replicate the taste of Starbucks coffee in an instant form.â€
Worldwide, there is a $17 billion market for instant coffee, according to the memo.
There are about 20 Starbucks stores within a 20-mile radius in the Albany, N.Y., area.
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