Speaking at Starbucks annual investor meeting, Starbucks CEO Howard Schultz said the coffee chain had become the "poster child" for excess when in fact most of its products were not as expensive as they were perceived.
Starbucks announced a new campaign to reshape its image, which will be launched online and across US television. The ads will feature the Ben E King song 'Stand by Me', which also played at the end of Shultz's presentation.
Starbucks US advertising is handled by BBDO, New York.
Starbucks has been struggling during the downturn. In January it announced plans to cut 6,700 of its 167,000 retail staff and shut 300 underperforming stores, after reporting a 69% fall in profits during the first quarter of the year.
Describing the UK economy as "in a spiral" Schultz was forced to retract his words when Mandleson later replied: "Why should I have that guy running down the country? Who the fuck is he? How they hell are they [Starbucks] doing?"