In 1987, the original owners sold the Starbucks chain back to former manager Howard Schultz for $3.8 million. They went off to focus on Peet’s coffee. Howard then rebranded his Il Giornale coffee outlets as Starbucks and had a major expansion of business. The revenue for that year was $ 1.3 million. Two years later he had 46 stores and roasted over 2,000.000 pounds of coffee.