By RICHARD HENRY, APStarFor most of its history, Starbucks has been synonymous with the coffee that made the company a force in the world of coffee, but its roots are much deeper.
Since it opened its doors in 1924, Starbucks (SBUX) has been the world’s largest coffee company.
Now, it’s celebrating its twentieth birthday.
The company celebrated its milestone on Monday with a grand opening in the U.S., where it opened at the iconic headquarters of its iconic empire, the iconic Starbucks.
The new location will be called the Starbucks Cantina in the historic building in downtown Los Angeles.
It will also include a new coffee shop and bar and other businesses that will offer a range of popular drinks, including a chocolate bar and a coffee shop made from recycled milk bottles.
The opening is expected to generate $1.6 billion in sales for Starbucks.
The company is expected report earnings on Tuesday.
The U.K.-based company, which has been struggling with a series of high-profile financial losses, is known for its rich history and deep pockets.
Its annual sales of $1 trillion in 2014 were the biggest ever for a coffee company in the United States, but it has had to fight back against increasing competition from companies like Amazon (AMZN), Starbucks and others in the marketplace.
For example, Starbucks recently sold its iconic green cups to a company in China for $1,000 each, but a few weeks later it announced a partnership with Chinese online retailer Alibaba.
The deal, which was supposed to close in July, didn’t.
It was instead extended for six months until Sept. 30, 2020.