Starbucks has decided to discontinue its olive oil-infused coffee line, known as Oleato, which was introduced in the previous year. Bloomberg reported on Tuesday that the coffee chain will cease offering Oleato beverages starting early November. A spokesperson for Starbucks confirmed to FOX Business that the Oleato line will be removed from the menu next month, noting that the company regularly updates its offerings.
The Oleato line, which has been available in Starbucks locations throughout the United States and internationally since earlier this year, includes drinks such as Oleato caffe latte, Oleato iced shaken espresso, and Oleato golden foam cold brew. These beverages were first launched in 2023, when Starbucks added them to its menu in Italy. Former CEO Howard Schultz expressed enthusiasm for the combination of coffee and olive oil, describing it as a transformative idea he was captivated by.
The planned discontinuation of the Oleato line preceded the tenure of Brian Niccol, who assumed the role of CEO at Starbucks on September 9, 2024. Niccol emphasized the need for Starbucks to change its recent strategies to regain growth and welcome back customers, including simplifying its menu and adjusting pricing strategies. Starbucks is also looking to refine its mobile ordering system and address staffing needs in its stores.
Starbucks is scheduled to release its financial results for the fourth quarter soon. Preliminary figures show the company generated $9.1 billion in net revenue for the quarter, with diluted net earnings per share at $0.80.