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Even as it continues to chase profitability, Tata Starbucks, a 50:50 joint venture between Seattle-based coffee store chain Starbucks and Tata Global Beverages, plans to expand its stores. On Tuesday, it inaugurated its 100th store in India in Mumbai and announced plans to open its first three stores in Kolkata in early 2018.
Starbucks operates in 28,000 stores across 75 markets in the world. In India, it now has 100 stores spread across six cities. “India is one of the most important markets that we operate in. One day, India will be among the top five markets that Starbucks operates around the world,” John Culver, group president, Starbucks International and Channel Development, told journalists here.
Starbucks opened its first store in India in 2012 in Mumbai’s Horniman Circle. In the last five years, the coffee chain - the most frequented retailer in the world - has opened stores in Pune, Hyderabad, Chennai, Delhi NCR and Bangalore. The US is the largest market for company, followed by Canada, China, Japan and UK.
Coffee sales account for 60 per cent of Starbucks’ topline, and tea constitutes another 10 per cent. Starbucks introduced Teavana brand in India in January and Culver said they will continue to make investments in tea, a fast-growing segment in India.
However, the venture continues to report losses, although its most recent financials for FY17 said the venture narrowed losses to ₹16.13 crore from ₹20.07 crore in FY16.
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