Core Insights - Starbucks is facing significant challenges due to its focus on transactional growth, which has alienated loyal customers and impacted its brand identity [1] - External factors such as economic uncertainty, rising operational costs, and inflation have negatively affected Starbucks' financial performance, reflecting broader trends in the foodservice sector [2] - The company is implementing a "Back to Starbucks" turnaround plan to address its previous missteps and improve its business strategy [2] Expansion into New Categories - Starbucks is making a strategic move into the fashion and beauty industry by hiring Neiv Toledano as the Head of Fashion and Beauty for the Brand Activation team [4] - This new role is the first dedicated position for developing strategies in the fashion and beauty space, indicating a significant shift in the company's approach [4] - The addition of this position suggests that Starbucks may increase its investment in limited-time fashion and beauty collaborations, particularly targeting U.S. customers [6] Previous Collaborations - Starbucks has previously partnered with various fashion and beauty brands, primarily in international markets, including collaborations with Stonebrick, alice + olivia, Vera Wang, FARM Rio, and Diane Von Furstenberg [8][9]