Tata Global Beverage has ventured standalone into quick service restaurant (QSR) segment by opening its first pilot tea cafe in Bengaluru. The company also plans to open another three more cafes in the city.
Tata Global has made 5-6 launches in the last 15 months. It is working in-line with global trends of health, wellness and premiumisation, Sushant Dash, Regional President India of the company.
Sources tell CNBC-TV18 that Nusli Wadia has written to Tata Chemical shareholders urging them to vote with their conscience at today's EGM.
Tata Global Beverages‘ move to replace Cyrus Mistry as Chairman was more to avoid hostility with parent company than performance-based says Independent Director S Santhanakrishnan, one among those who voted Mistry out.
The company insists that both JV partners, Tata Global Beverages and Starbucks, are extremely happy with Starbucks' performance and trajectory in India and will be entering new markets in its second year of operation.
Talking about the business of Tata Global Beverages, L Krishnakumar, CFO of the company said performances have been quite strong, both in terms of volumes and price increases.
In an interview with CNBC-TV18, Hameed Huq, managing director of Tata Coffee said there has been shrinkage in production of Arabica in Colombia and Central America. This global shortage of high quality washed Arabica has lead to hike in coffee prices.