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The Economic Times
The Economic Times
National
Team Global

Magic Johnson quietly built 105 Starbucks stores in underserved urban neighborhoods; in 2010, he sold his stake back to Starbucks in a deal reported at about $75 million

In 1998, Starbucks Coffee partnered with Earvin "Magic" Johnson to open coffee shops in areas not traditionally targeted by the company. In the span of the next 12 years, this relationship became one of the most notable in the American retail industry. In 2010, the Los Angeles Times reported that Magic Johnson sold his shares in over 100 urban Starbucks shops back to the company. This issue raises an important question for consideration: who retains the corporate investment in the community?

The partnership that changed the coffee map

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