Starbucks is running an open letter of apology in UK newspapers from managing director Kris Engskov in an urgent bid to save the brands reputation.
The letter claims the company will pay “significant” tax over the next two years, regardless of profits.
Starbucks suffered a huge blow earlier this year when it was announced the company had paid only £8.6m in corporation tax since it began trading in the UK 14-years ago.
The revelation could not have come at a worse time as Starbucks’ rival, Costa Coffee, had ran a very successful advertising campaign to win over many new customers.
In a speech to the London Chamber of Commerce made yesterday, Starbucks Managing Director, Engskov claimed Starbucks would pay £10m in corporation tax a year, during the next two years.
“Our offer of £20m over the next two year is above what is currently required by UK tax law and will be made regardless of whether it is profitable during the time period.”
The letter of apology was also posted onto the Starbucks website and reads:
“Over the more than 14 years we’ve been in business here in the UK, the most important asset we have built is trust. Trust with our partners (employees), our customers and the wider society in which we operate.”
The coffee giants also revealed that along with paying £20m in corporation tax over the next two years, it will also train 1,000 apprentices to pursue a “series of initiatives that will increase employment and investment”.
Engskov also made reference to Starbucks charitable past and his hopes that loyal Starbucks can forgive and perhaps forget.
“We hope that over time, through our actions and our contribution, you will give us an opportunity to build on your trust and custom.”
Are you a regular Starbucks visitor? Has this latest event made you reconsider buying your coffee from Starbucks?
You can follow Jungle on Twitter – @Jungle_Drums
