I wish I remembered what this location used to be before they did a major renovation. Magic Johnson teamed up with Starbucks in 1998 with a 50/50 partnership called Urban Coffee Opportunities. I will remember for the next few days. Discover Magic Magic. View Case Studies. Former Laker star Magic Johnson is selling off some business assets. In 1998, the company worked with former basketball star Magic Johnson to open stores in … Delivery & Pickup Options - 243 reviews of Starbucks "I missed the Starbucks Happy Hour today..BLAST!!! Earvin "Magic" Johnson invests in Topgolf, a global sports entertainment company headquartered in Dallas, Texas with locations in the United States, United Kingdom, Australia, Mexico and Dubai. Now folks fear an empty store will invite blight. Magic Johnson Enterprises serves as a catalyst for fostering community and economic empowerment by providing access to high-quality entertainment, products and services that answer the demands of multicultural communities. I wish it was longer by 3 hours. Apparently, there is a Starbucks that I nor Yelp didn't know about. Starbucks had the perception of not being for everyone, an elite brand for 'suburban moms.' Magic Johnson, Arsenio Hall and Danny Trejo get vaccinated at USC, encourage others to do so, Earvin “Magic” Johnson to Host Fifth Annual NFLPA Pitch Day, NBA legend Magic Johnson provides Thanksgiving meals for Orlando families, © Copyright MagicJohnson.com 2021 Starbucks Coffee Company, which has blanketed much of New York with scores of coffee stores, teams up with Magic Johnson to expand into Harlem; Starbucks store … Johnson recently sold … Magic Johnson Enterprises remains committed to serving Urban America and we look forward to working with Starbucks on its community development initiatives.”. Magic Johnson, Arsenio Hall and Danny Trejo get vaccinated at USC, encourage others to do so. While Magic Johnson owned Starbucks stores, he sold his 105 Starbucks franchises back to the company in 2010. Magic made a deal with Howard Schultz to become the first “outside owner” of a Starbucks location. 03/26/2021. How Magic Johnson convinced Howard Schultz to partner with him and build more Starbucks stores Published Sat, Nov 10 2018 9:00 AM EST Updated Sat, Nov 10 2018 9:01 AM EST Kathleen Elkins @kathleen_elk Opens in underserved neighborhoods through joint-venture partnership with Magic Johnson. From Magic Johnson Theaters and Starbucks to Simply Healthcare and The Dodgers, MJE is a measurable success factor in achieving significant return on investment. Over the tenure of the partnership, more than 100 UCO locations were opened in cities including Los Angeles, New York, Seattle, Chicago, Denver, Detroit, Atlanta, San Diego, San Francisco, and Washington, D.C. Starbucks stores in … Johnson also stayed true to his sports roots by investing in both the Los Angeles Lakers and the Los Angeles Dodgers. The Los Angeles Times reports that Magic Johnson has divested his interest in Starbucks, selling 105 "franchises" back to the company, according to an anonymous source. Magic Johnson Enterprises is constantly evolving, acquiring and selling businesses frequently. MAGIC JOHNSON’S EQUITRUST, MBE PARTNERS, AND CARVER BANK TO FUND $325 MILLION IN PPP LOANS. In 1994, Johnson had paid $10 million to buy 5% of the Lakers, which he sold his stake to the team in 2010 to billionaire Patrick Soon-Shiong for a reported $50-60 million. Magic Johnson, Starbucks (Starbucks/iStock) Yes, we’ve already mentioned Magic Johnson, but let’s be honest, the dude deserves two entries for … Magic Johnson Enterprises serves as a catalyst for fostering community and economic empowerment by providing access to high-quality entertainment, products and services that answer the demands of multicultural communities. It was opened in conjunction with Urban Coffee Opportunities, Magic Johnson's company that helps open Starbucks in economically depressed areas. 1998 Extends the Starbucks brand into grocery channels across the U.S. That also included him buying over 125 Starbucks locations, which he held until he sold back to the company in 2010. In total, Magic Johnson Enterprises reportedly holds a net worth of $1 billion. From Magic Johnson Theaters and Starbucks to Simply Healthcare and The Dodgers, MJE is a measurable success factor in achieving significant return on investment. Magic Johnson Sells Back 105 Starbucks Locations. Magic Johnson, Arsenio Hall and Danny Trejo get vaccinated at USC, encourage others to do so, Earvin “Magic” Johnson to Host Fifth Annual NFLPA Pitch Day, NBA legend Magic Johnson provides Thanksgiving meals for Orlando families, © Copyright MagicJohnson.com 2021 (Johnson apparently won over the corporation’s CEO, Howard Schultz, after taking him to a screening of Waiting to Exhale. 2016 The Los Angeles Sparks win 2016 WNBA Championship. Magic Johnson Invested in the company and brought a lot of passion to the business ... Starbucks. Partner: Starbucks. Last month, Johnson, pictured above with his executive team in a photo a grabbed from his website (hope you don't mind, Mr. Magic), announced the sale back to Starbucks 105 franchise locations he purchased form the company several years ago. Total stores: 1,412. Its 3pm to 5pm, RYAN!! USA Today asked Starbucks about the closure, and a spokesperson suggested the company could “better serve more of the community by moving this store.” Earvin “Magic” Johnson … There, he built the the AMC Magic Johnson Capital Center 12 movie complex. As per the Los Angeles Times , Johnson was looking to invest in sports after some time. Latest Updates View All. "I think people would be more comfortable buying a house around the corner from a Starbucks than if it wasn't here and it was some random other store," a customer told Eyewitness News. Over the tenure of the partnership, more than 100 UCO locations were opened in cities including Los Angeles, New York, Seattle, Chicago, Denver, Detroit, Atlanta, San Diego, San Francisco and Washington, D.C. Starbucks stores in the Harlem neighborhood of New York City, the Bronzeville neighborhood of Chicago, and the Crenshaw district in Los Angeles all anchored redevelopment of the … Starbucks has also learned lessons from previous efforts. View Case Studies. We exercise a proven expertise in business strategy, urban planning and developing creative business solutions to drive unparalleled results for our clients and partners. The first Urban Coffee Opportunities store opens, part of joint-venture partnership with Magic Johnson to create economic opportunity and a stronger sense of community in underserved neighborhoods. Discover Magic Magic. Before he sold the Starbucks stores, he had also sold his 4.5 percent ownership stake in the Los Angeles Lakers to Dr Patrick Soon-Shiong. Magic Johnson, Arsenio Hall and Danny Trejo get vaccinated at USC, encourage others to do so. 03/26/2021. From creating job opportunities within communities, to reshaping the corporate understanding of urban areas, our work raises awareness, enhances social value and increases the economic strength of those we serve. Privacy Policy. “[Magic Johnson Theaters] was the top ten highest-grossing theater in the nation,” Johnson said. When others neglected urban centers like Harlem and South Central L.A., Johnson saw a need and an opportunity. Establishes the Starbucks Foundation. Opens stores in: the Philippines. The success of the theater was largely due to his ability to provide the movie-going experience the community wanted. Launches Starbucks.com. Earvin "Magic" Johnson, second from right, and officials and owners of Starbucks, Johnson...[+] Development Corp. and a new Starbucks store toast the … Latest Updates View All. We give our clients and partners the edge needed to effectively capitalize on the growing purchasing power and value of multicultural communities. Partner Challenge. We exercise a proven expertise in business strategy, urban planning and developing creative business solutions to drive unparalleled results for our clients and partners. They understood the value of urban consumers, but had not ventured in to the urban market. In addition, he negotiated an exclusive collaboration with Apple iTunes, which resulted in the formation of the Starbucks Entertainment Area on iTunes and the iTunes Wi-Fi Music Store at Starbucks. We give our clients and partners the edge needed to effectively capitalize on the growing purchasing power and value of multicultural communities. It owns, or has owned, franchised branches of Starbucks, Burger King and T.G.I Friday's. 08/27/2020. From Magic Johnson Theaters and Starbucks to Simply Healthcare and The Dodgers, MJE is a measurable success factor in achieving significant return on investment. From Magic Johnson Theaters and Starbucks to Simply Healthcare and The Dodgers, MJE is a measurable success factor in achieving significant return on investment. Discover Magic Magic. Latest Updates View All. From Magic Johnson Theaters and Starbucks to Simply Healthcare and The Dodgers, MJE is a measurable success factor in achieving significant return on investment. 6) Magic Johnson, Starbucks Photo by Jonathan Daniel/Getty Images Yes, we’ve already mentioned Magic Johnson, but let’s be honest, the dude deserves two entries for the sheer number of business ventures he operates. There are plenty of other UCO stores from coast-to-coast, but this is is special, because East Lansing is where Magic played ball, and you can check out his jersey in the glass case inside this store. From creating job opportunities within communities, to reshaping the corporate understanding of urban areas, our work raises awareness, enhances social value and increases the economic strength of those we serve. View Case Studies. Privacy Policy. The Fall Creek store was part of Magic Johnson's plan to brew up new business in rough neighborhoods. Locations: 100+ Visit Website. That's where Magic Johnson the businessman is so like Magic the player.