Tata Starbucks to open first cafe in Mumbai by October-end
Sep 28 2012, 15:55 | By Moneycontrol.com
The wait to sip Starbucks coffee in India has just got a bit longer. The world's largest coffee chain, which has a joint venture with Tata Global Beverages to operate in the country, will now open its first cafe only by the end of October.
The joint venture was signed in January this year and according to the plans then, the first outlet called 'Starbucks Coffee - A Tata Alliance' was expected to open by August-September and 50 cafes would be rolled out in the first phase.
The outlet will open in the Horniman Circle area of Mumbai and will be the first Starbucks location to feature espresso sourced and roasted locally from India through the coffee sourcing and roasting agreement with Tata Coffee.
"We are delighted to be able to announce our progress toward opening our first store in India and to introduce locally sourced espresso," said John Culver, president, Starbucks China and Asia Pacific.
Starbucks has more than 17,000 outlets around the world.
"The joint venture is in line with Tata Global Beverages' strategy of growing through strategic alliances in addition to organic growth. We are excited about the opportunity to innovate in the retail space and bring new beverage moments to more consumers," said CEO Harish Bhat.
Apart from the retail joint venture, Starbucks already has a partnership with Tata Coffee to source Arabica beans from India.
On Friday, Tata Starbucks also announced the appointment of Avani Saglani Davda as CEO of the JV company.
Avani has worked with Tata companies for 10 years, and most recently worked in vice-chairman's office of Tata Global Beverages, where she was responsible for driving key strategies and initiatives, the company said.
Tata Global Beverages' shares hit a 52-week high of Rs 142.20 on NSE on Friday and at 11:50 hrs,were at Rs 141, up 7.1%.
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