Tata Starbucks announced on Tuesday that it will increase its presence in India and expand to 1,000 stores by 2028. Currently, the store count for the famous coffee chain stands at 390 in the country.
In an official statement, the firm, an equal joint venture between Tata Group and Starbucks, revealed that it plans to open a new store every three days and also venture into tier-2 and tier-3 cities, reported PTI. “For Starbucks, India, which is poised to be the third largest economy globally by 2030, is one of the fastest growing markets globally and it is doubling down on its presence in the market,” the statement read.
The company said that it will also double its workforce to 8,600 employees, and expand its presence in drive-thrus, airports, and its 24-hour store footprint. Notably, Starbucks’ chief executive, Laxman Narasimhan, visited India in the week.
During the visit, Narasimhan said, “With a growing middle class, we are proud to help cultivate the evolving coffee culture while honouring its rich heritage.” The executive added, “The company which has been present in India for the last 11 years is well positioned to capture limitless opportunities.”
Notably, the firm’s sales increased 71 per cent to touch Rs 1,087 crore, media reports claimed. Tata Starbucks’ chief executive, Sushant Dash, noted, “With partners forming the heartbeat of our organization and shaping our success in India, we will continue to make meaningful investments that bridge a better future for all partners.”
Elaborating on the firm’s plans, Sunil D’Souza, chief executive managing director, Tata Consumer Products, said, “ As we move into the next chapter of growth, we will continue to develop India's coffee culture to deepen connections with our customers, while innovating to bring our unique Indian offerings to the global stage.”
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