Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
The number of martyrs from the Israeli aggression on Iran's state broadcaster (IRIB) has risen to 3
Ambrey confirms cause of the incident 22 nautical miles east of Khor Fakkan in United Arab Emirates was not security-related
G7 statement on developments between "Israel" and Iran: We affirm that "Israel" has a right to defend itself and reiterate our support for the security of "Israel"
G7 statement on developments between "Israel" and Iran: We will remain vigilant to the implications for international energy markets and stand ready to coordinate
G7 statement on developments between "Israel" and Iran: We have been consistently clear that Iran can never have a nuclear weapon
G7 statement on developments between "Israel" and Iran: We urge that the resolution of the Iranian crisis leads to a broader de-escalation of hostilities in the Middle East, including a ceasefire in Gaza
Axios citing four sources: White House discussing with Iran the possibility of a meeting this week between US envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi
Ambrey says it is aware of an incident 22 nautical miles east of Khor Fakkan in United Arab Emirates
Israeli media: Explosions were heard in the north
Sirens are now sounding in Haifa, its suburbs, and the lower al-Jalil

Boycotting works: Starbucks loses $11bln in market value

  • By Al Mayadeen English
  • Source: News websites
  • 7 Dec 2023 09:53
  • 48 Shares
4 Min Read

Starbucks Corp's recent weeks have been fraught with turmoil.

  • x
  • A coalition of unions and supporters join Starbucks workers at a rally outside a midtown Manhattan Starbucks coffee store, Thursday, Nov. 16, 2023, in New York. (AP)
    A coalition of unions and supporters join Starbucks workers at a rally outside a midtown Manhattan Starbucks coffee store, Thursday, Nov. 16, 2023, in New York. (AP)

As the end of the year approaches, it was reported that Starbucks has lost almost $11 billion in market value, due to intense boycotts and employee strikes in support of Palestine, in addition to a lukewarm holiday promotion.

To counter the losses Starbucks surely predicted, and as the holidays approached, the corporation announced its Red Cup Day; a marketing strategy that gives consumers the chance to receive a free reusable holiday cup with every purchase. However, since the announcement of the promotion in mid-November, Starbucks saw a decline of 8.96 percent in its shares, which equals $10.98 billion in losses, the lowest it has ever experienced since 1992. 

This is because of the recent global call to boycott brands and franchises that directly or indirectly benefit "Israel" economically. The Starbucks employee union was transparent in its support for Palestine, as "Israel" launched a genocide in Gaza in October, and took the opportunity to demand better work conditions, including scheduling and the freedom to negotiate contracts. Since then, employee strikes have been consistent. 

As a result, the brand found that its reputation is at stake. Despite the loss in value, both economic and social, Starbucks CEO Laxman Narasimhan was positive Starbucks could turn its image back around and make a comeback from the "macroeconomic challenges" it has been facing. 

However, the statistics indicate otherwise, as the franchise's efforts were inconsistent with the results they had brought the years before. For example, last year, Red Cup Day resulted in an 81 percent increase in consumption compared to only a 31.7 percent increase this year.

Read more: IHRC launches 'Boycott Genocide Supporters' campaign

Starbucks files lawsuit against the employee union over support for Palestine 

In October, Starbucks filed a lawsuit against their employee union over a post the latter shared on X in solidarity with Palestine.

Two days after Operation Al-Aqsa Flood, and following the Israeli war on Gaza, Starbucks Workers United posted “Solidarity with #Palestine!” on X, formerly known as Twitter. Workers United said in its lawsuit that workers put up the tweet without the authorization of union leaders. The post was up for about 40 minutes before it was deleted.

Related News

Al-Qassam, al-Quds Brigades launch joint ops on Israeli forces in Gaza

Gaza death toll surges to 55,432 killed, 128,923 injured

Starbucks filed a federal lawsuit in Iowa against #WorkersUnited, alleging that the pro-Palestinian social media post from a union account upset numerous customers and harmed the company's image.

Starbucks is suing for trademark infringement, demanding that Workers United stop using the name “Starbucks Workers United” for the group that is organizing the coffee company’s workers. Starbucks also wants the group to stop using a circular green logo that resembles Starbucks’ logo.

Global boycott of 'Israel'

Boycott efforts have been consistent around the globe. 

In Kuwait, giant billboards displayed blood-stained children, asking, "Did you kill a Palestinian today?" taking a jab at those who still benefit "Israel"-linked products.

In a sweeping wave of protest, Egypt, Jordan, and Turkey also witnessed a significant surge in a boycott targeting multinationals that have either pro-Israeli stances or financial ties with "Israel", such as McDonald’s, Starbucks, and KFC, prompting a widespread consumer movement against them.

The escalation of the genocide has further fueled the momentum of the boycott. As global pressure mounts on "Israel" for its brutal attacks on Gaza, the movement is gaining traction in other nations, including Kuwait and Morocco.

Indonesian-based media outlet Republik reported in November that Indonesian advocates are calling for a boycott of Israeli-linked products due to the ongoing genocide in Gaza. 

The call for a boycott was initially launched by human rights groups in both Indonesia and Malaysia and gradually grew to garner support from various political parties, the outlet said.

The list reportedly includes companies such as Coca-Cola, Starbucks, McDonalds, KFC, Nestle and IBM. 

"I don't think that me boycotting these brands would affect them."

Think again.#PalestineGenocide #GazaUnderAttack pic.twitter.com/rGkj8vVwKt

— Al Mayadeen English (@MayadeenEnglish) October 30, 2023

Read more: Sayyed Khamenei urges Muslim states to boycott, sanction 'Israel'

  • Gaza Strip
  • Occupied Palestine
  • Operation Al-Aqsa Flood
  • Palestine
  • BDS
  • Israeli aggression
  • Israel
  • Starbucks
  • Israeli occupation
  • Boycott Israel
  • Gaza
War on Gaza

War on Gaza

Most Read

Iranian missiles impact Israeli sites in Tel Aviv in 2nd wave

Iran's missiles impact 'strategic' Israeli site in Tel Aviv

  • Politics
  • 14 Jun 2025
Bin Salman: Islamic world backs Iran in call to Pezeshkian

MBS says Islamic world backs Iran in call with Pezeshkian

  • MENA
  • 15 Jun 2025
Smoke rises after an Iranian ballistic missile directly struck Tel Aviv, Occupied Palestine, June 13, 2025 (AP)

Op. True Promise 3: Iran's ballistic missiles strike Tel Aviv

  • MENA
  • 13 Jun 2025
'Israel' launches major strike against Iran's nuclear program

'Israel' launches massive aggression on Iran

  • MENA
  • 13 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Smoke rises from an oil storage facility after it appeared to have been struck by an Israeli strike on Saturday, in Tehran, Iran, Monday, June 16, 2025 (AP)
Politics

Hezbollah, regional media authorities condemn Israeli IRIB bombing

The trace of a projectile is seen before hitting Tel Aviv, early Saturday, June 14, 2025. (AP)
Politics

'Israel' bans foreign journalists from covering Haifa oil refinery

In this Dec. 23, 2019 file photo released by the Atomic Energy Organization of Iran, technicians work at the Arak heavy water reactor's secondary circuit near Arak, Iran (AEOI)
Politics

Iran signals no new concessions in nuclear talks with US, WSJ reports

An IRIB correspondent reporting live after the broadcaster's headquarters were struck by Israeli airstrikes, Tehran, June 16, 2025 (Screengrab)
Politics

Following blatant threats, 'Israel' bombs Iran's state broadcaster

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS