Is Starbucks shutting shop in India? India JV partner Tata Consumer answers
2 weeks, 6 days ago

Is Starbucks shutting shop in India? India JV partner Tata Consumer answers

Live Mint  

Is the American coffee giant Starbucks planning to shut shop in India? Tata Consumer CEO Sunil D'Souza told Reuters, “We will calibrate for the short term — maybe instead of opening 100, we will open 80 now, and next year we will open 120 instead of 100. Tata Starbucks is still focused on reaching its 2028 goal to operate 1,000 stores by 2028.” Tata Starbucks operates over 450 stores in India — this number is more than double compared to four years back, D'souza said. Tata Starbucks has beefed up its dedicated team to plan for store openings, keeping an eye out for upcoming real estate development and shortlisting locations ahead of time, as per the report. Separately, D'Souza said Tata Consumer's revenue would increase in the double-digit percentage range in the second half of the financial year, with profit coming under pressure due to higher prices of raw materials, including tea.

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‘Tata is running Starbucks, not going anywhere’: Netizens react after company refutes exit rumours
2 weeks, 6 days ago

‘Tata is running Starbucks, not going anywhere’: Netizens react after company refutes exit rumours

Live Mint  

Starbucks will continue operations in India as stated by Tata Consumer Products, bringing a pause to the speculation about the coffee giant's exit from India. Denying reports that American coffee giant Starbucks will close operations in India, joint venture partner Tata Consumer Products issued a statement. Tata’s relationship with Starbucks stands strong with shared values and commitment to India,” Tata …

No, Starbucks is not going anywhere. Coffee chain says ‘fully committed to Indian market’
2 weeks, 6 days ago

No, Starbucks is not going anywhere. Coffee chain says ‘fully committed to Indian market’

Hindustan Times  

Tata Consumer Products has denied a report suggesting American coffee chain Starbucks could exit India soon due to rising losses and high operating costs. In letters to three major Indian stock exchanges, Tata Consumer Products called the report “baseless.” A recent report suggested that Starbucks could soon exit India due to widening losses. Published with the headline “Starbucks to Exit …

Tata Consumer dismisses reports of Starbucks exiting India as baseless
2 weeks, 6 days ago

Tata Consumer dismisses reports of Starbucks exiting India as baseless

India Today  

Tata Consumer has responded to reports that claimed that Starbucks is exiting India due to high costs and mounting losses. In a stock exchange filing, the company said, “This is with reference to the news article titled - “Starbucks to Exit India Due to High Costs, Bad Taste, and Mounting Losses”. The Company would like to state that the information …

India’s Tata faces pressure in Starbucks joint venture as consumers cut back
3 weeks, 2 days ago

India’s Tata faces pressure in Starbucks joint venture as consumers cut back

Live Mint  

By Praveen Paramasivam -India's Tata Consumer Products will push back plans for some new Starbucks store openings until later in its existing schedule as fewer customers are walking into its cafes in the world's most populous country, its top boss said on Monday. "We will calibrate for the short term — maybe instead of opening 100, we will open 80 …

Starbucks CEO’s favourite coffee has an Indian connection, costs $3.35
1 year, 1 month ago

Starbucks CEO’s favourite coffee has an Indian connection, costs $3.35

Hindustan Times  

Starbucks CEO Laxman Narasimhan revealed his favourite Starbucks coffee, which has an Indian connection. The drink costs $3.35 Starbucks CEO Laxman Narasimhan revealed that he likes his coffee with some hot milk on the side. Here’s how people reacted to this video: “You are the CEO, go ahead and add the South Indian filter coffee to the menu. Another added, …

Amid pandemic, Starbucks to resume dine-in services in seven Indian cities soon
4 years, 6 months ago

Amid pandemic, Starbucks to resume dine-in services in seven Indian cities soon

Live Mint  

New Delhi: Tata Starbucks on Monday said the company will resume dine-in services in seven cities across India, with elevated cleaning and sanitising protocols. Stores will operate with 50 per cent seating capacity to allow for social distancing between customers and employees, said Tata Starbucks in a statement. "As we navigate through the crisis, we are transforming the in-store Starbucks …

VG Siddhartha founded Starbucks’s Indian rival with 1,500 outlets
5 years, 5 months ago

VG Siddhartha founded Starbucks’s Indian rival with 1,500 outlets

Hindustan Times  

The founder of Coffee Day Enterprises Ltd., the Indian rival of Starbucks Corp., has been missing since Monday evening after he went on a walk, police said. 26 September 2015, New Delhi: VG Siddhartha chairman of Coffee Day Enterprises that runs Cafe Coffee Day outlets. V. G. Siddhartha asked his driver to stop his car, before going for a walk …

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