Starbucks opens first outlet in India
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The world's biggest coffee chain Starbucks today opened its first outlet in India – an estimated Rs 1,200 crore coffee market -- in a joint venture with Tatas.
Starbucks' Indian foray also marks the renowned coffee chain using locally-resourced roasted coffee at its outlet for the first time in its history.
Tata Starbucks, which is an equal joint venture between Starbucks Coffee Company and Tata Global Beverages, will explore the possibility of extending the partnerships to overseas markets by taking other Tata products, especially the Himalayan water brand and coffees.
The Indian Espresso Roast, which will be served at the new store in the Horniman Circle area of south Mumbai, will be a hallmark feature of all Starbucks stores in the market and highlights the quality espresso available here, Starbucks Coffee Company Chairman, President and Chief Executive Howard Schultz said.
Tata Starbucks, which is investing Rs 400 crore initially, will open next two stores in the city soon. The first Delhi store will be opened in the first quarter of next year.
"This occasion is just more than memorable because today we are ushering in a new venture, a partnership much much deeper ... It is an alliance between two companies sharing same values who want to improve the lives of people around," Tata Group Chairman Ratan Tata said.
After opening the first store, Schultz said, "We are proud to enter India with the Tatas, a global company that shares many of the same values that Starbucks was founded on more than 40 years ago."
"Our first flagship store is an amazing celebration of great coffee, rich Indian heritage and community. We are investing for the long-term and see great potential for accelerated growth here," he said.
He added that for the first time in the history of Starbucks, the Seattle-based company is sourcing and roasting coffee here procured from the Tata Coffee estates. Tata Starbucks will also explore the possibility of taking other Tata products to overseas markets.
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