Starbucks aims to open 50 outlets in India by year’s end, through a 50-50 joint venture with Tata Global Beverages, the companies said Monday.
Tata Starbucks Ltd., as their venture is known, hopes to capitalize on the rising aspirations — and fattening wallets — of many Indians, who are eager to partake of the global latte life.
Long known as a nation of tea drinkers — despite a rich tradition of coffee in the south — India has embraced coffee house culture with a vengeance.
Last year, India had 1,600 cafes, up from just 700 in 2007, according to Technopak Advisors, which expects India’s $170 million cafe market to grow 30 percent a year, adding up to 2,700 more outlets over the next five years.
The companies will also develop a tea for the Indian market under the Tata Tazo brand.
Last January, Starbucks signed an agreement with Tata Coffee, a unit of Tata Global Beverages, to source and roast coffee beans in India. The alliance with Tata could help ease one of the main burdens for retailers in India: the high cost of real estate.
Starbucks currently operates over 17,000 stores in 57 countries.
Is a great way to move the economy but wasn't India one of the places shown on the World Vision programs? Wouln't be better to promote more food stores, restaurants....maybe there's something wrong....world vision organization lie to us or maybe they don't have their priorities straight! I'm just saying.....
ReplyDeleteHey Yola! Love your comments :)
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