Forbes writes that when Dunkin' Donuts CFO Paul Carbone made the following statement to investors and analysts this week:
"We are a beverage company."
Not a doughnut company. Not a doughnut-and-beverage company.
No, Dunkin' Donuts is setting itself up as a direct competitor to Starbucks.
The reason? Dunkin' Donuts has its eye on California, "where the Boston-based chain has no presence to date, but where top competitor Starbucks operates well over 2,000 stores - more than triple the number in the Seattle coffee giant’s second most saturated state, Texas.
"Carbone said the company has been targeting California with its coffee ads since 2010, despite having no plans to open up shop there until 2015. 'By the time we’re in California, they’ll have seen five years of national media focused on beverages,' he said of the plan.
"We are a beverage company."
Not a doughnut company. Not a doughnut-and-beverage company.
No, Dunkin' Donuts is setting itself up as a direct competitor to Starbucks.
The reason? Dunkin' Donuts has its eye on California, "where the Boston-based chain has no presence to date, but where top competitor Starbucks operates well over 2,000 stores - more than triple the number in the Seattle coffee giant’s second most saturated state, Texas.
"Carbone said the company has been targeting California with its coffee ads since 2010, despite having no plans to open up shop there until 2015. 'By the time we’re in California, they’ll have seen five years of national media focused on beverages,' he said of the plan.
- KC's View:
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Dunkin' wants to be a beverage company. Starbucks wants to be seen as more of a food company.
Talk about the grass always being greener....
