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Starbucks (SBUX-0.63%) has teamed up with the Peanuts comic brand for a new collaboration as it looks to reignite consumer interest.
The Seattle-based chain is now selling three different Peanuts merch items: a Peanuts Love Plastic Cold Cup (24oz) for $19.95, a Peanuts Joe Kind Snoopy Stainless Steel Tumbler (16oz) for $29.95, and a Peanuts Friendship Ceramic Mug (14oz) for $24.95.
The collaboration is “part of the global brand partnership between Starbucks and Peanuts that celebrates kindness, coffee, and community,” the coffee brand said.
The items were added to shelves in select Starbucks stores on Tuesday.
This move comes as Starbucks grapples with slowing sales growth and rising competition. While the nostalgic tie-up with Disney (DIS+1.15%) might generate some buzz, it’s unlikely to address the underlying challenges the brand is facing.
Starbucks’ new CEO, Brian Niccol, has vowed to return the company to its roots by focusing on speed and simplicity. Niccol has committed to making coffee in under four minutes, paring down the menu to make ordering more efficient, and removing the upcharge for non-dairy milk alternatives. However, whether these steps can spur growth and weather the broader economic pressures – such as inflation and rising food prices — remains to be seen.
In 2024, Starbucks fell short of attracting consumers both in the U.S. and in China, its second-largest market. In December, the company announced it would triple its parental leave for baristas who work a least 20 hours per week. Meanwhile, in China, Starbucks hired its first-ever chief growth officer as it looks to collaborate with entertainment brands to attract customers that have flocked to rival chains like Luckin’ Coffee (LKNCY+0.18%).
Additional reporting by Francisco Velasquez.