Starbucks Corporation (NASDAQ:SBUX) opened its first coffee shop in India. The flagship store is located in the historic Elphinstone Building, Horniman Circle, in the city of Mumbai.
Starbucks Corporation (NASDAQ:SBUX) is expanding its business in the Indian market, in partnership with Tata Global Beverages Limited (50/50 joint venture), under the company name Tata Starbucks Limited. The partnership will also open two coffee shops in Oberoi Mall, and the Taj Mahal Palace Annex in Mumbai.
In a statement, Howard Schultz, chairman and chief executive officer of Starbucks Coffee Company said, “We are proud to enter the India market with Tata Global Beverages, a global company that shares many of the same values that Starbucks was founded on more than 40 years ago…Together, our two companies are bringing an unparalleled experience to India customers. We are investing for the long-term and see great potential for accelerated growth in India.”
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Starbucks Corporation (NASDAQ:SBUX) spent six years evaluating the local market in India, which is the third largest economy in Asia. At present, the coffee shop is still a new trend in the country. Some of the coffee houses offer cappuccinos and lattes, offering lower prices compared with Starbucks regular prices.
According to the Seattle-based coffee company, Tata Starbucks Limited will offer Indian Espresso Roast. The company will also offer Starbuck’s product portfolio, including the Starbucks signature espresso-based beverages, Starbucks VIA Ready Brew and Starbucks Reserves.
In addition, Starbucks Corporation (NASDAQ:SBUX) will also sell Tata Tazo and Himalayan mineral water, and a wide selection of food items both Western and Indian favorites such as Elaichi Mawa Croissant, Murg Tikka Panini, and Tandoori Paneer Roll.
According to Starbucks Corporation (NASDAQ:SBUX), its coffee beans sourced and roasted locally, as per agreement with Tata Coffee. It will also improve the profile and quality of Indian-grown Arabica coffee, by using sustainable practices and advance agronomy solutions.
Avani Saglani Davda, CEO of Tata Starbucks Limited, said, “We are honored to open our doors to customers today and look forward to sharing our passion for high-quality, locally sourced and roasted espresso, as well as the uplifting moments of connection Starbucks baristas are known for around the globe. Tata Starbucks Limited is committed to investing in the communities where it does business and creating a great work environment for its people.”