In less than 20 hours, Starbucks (NASDAQ:SBUX) will sell 5,000 limited edition stainless steel gift cards for $450 each. The cards will be sold exclusively on Gilt.com, and each comes with $400 pre-loaded and a straight shot to My Starbucks Reward Gold Level status.
According to the coffee company's latest annual report:
The Starbucks stored value card program is designed to increase customer loyalty and the frequency of store visits by cardholders.
All cardholders receive complimentary drinks on their birthday, and can earn reward "stars" toward free drinks throughout the year.
In FY 2012, the company recorded $13.3 billion in sales, and $1.4 billion in net profit. For the same period, Starbucks chalked up $65.8 million for unredeemed gift cards.
The pre-sale site on Gilt.com has received over 1,000 Facebook likes.
Justin Loiseau has no positions in the stocks mentioned above, and currently lives in Geneva, where one coffee costs approximately $400. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.
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