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Tata to rethink Starbucks' outlet expansion strategy amid lower footfall
VCCircle
ยท
7m ago
Medial
Tata to rethink Starbucks' outlet expansion strategy amid lower footfall An employee takes a customer's order at a Starbucks' outlet in New Delhi | Credit: Reuters India's Tata Consumer Products "will calibrate" its plans to open Starbucks stores in the near term at a time when fewer customers are walking into its cafes in the world's most populous country, its top boss said on Monday. City dwellers in India are cutting spending on everything from cookies and coffee to fast food as persistently high inflation squeezes middle class budgets, with wages failing to keep pace. Tata Starbucks, a joint venture between U.S. coffee brand Starbucks SBUX.Oand the Indian conglomerate, operates the largest cafe chain in the country with more than 450 outlets. Advertisement Starbucks has more than 40,000 stores globally. "We will calibrate for the short term ... In the near term there will be pressure," Tata Consumer CEO Sunil D'Souza told Reuters, adding that its Tata Starbucks joint venture is still focused on reaching its 2028 goal to operate 1,000 stores by 2028. However, Tata Consumer's CEO still expects its bet on coffee to pay off in the longer run as the country's coffee culture grows and cafe density is still low compared with other Asian countries such as Indonesia, Vietnam and the Philippines. Advertisement Separately, D'Souza also said Tata Consumer's revenue would increase in the double-digit percentage range in the second half of the financial year, with profit coming under pressure due to higher prices of raw materials, including tea. Share article on Leave Your Comments
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Is Starbucks shutting shop in India? India JV partner Tata Consumer answers | Company Business News
Livemint
ยท
7m ago
Medial
Contrary to rumors, Tata Consumer Products (TCP), the joint venture partner of Starbucks in India, has denied reports of Starbucks planning to exit the Indian market. TCP stated that Tata's relationship with Starbucks remains strong and committed to India. However, TCP may delay some new store openings due to low footfall. Despite challenges in finding quality locations, Tata Starbucks aims to reach its goal of operating 1,000 stores in India by 2028. In the previous financial year, Starbucks' sales in India grew 12%, and the company expects the coffee culture in the country to drive future growth.
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Starbucks India to accelerate store expansion after 'tempered' growth period
Livemint
ยท
15d ago
Medial
Tata Consumer Products Ltd, which operates Starbucks in India, plans to accelerate the coffee chain's expansion after a temporary slowdown in store additions. In the June quarter, the company opened six new outlets, totaling 485 stores. Aiming for 1,000 locations by 2028, Starbucks India also intends to explore more Starbucks Reserve stores. The expansion strategy highlights the company's optimism about the Indian market despite recent tempered growth.
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Tata Starbucks dismisses India exit reports
YourStory
ยท
7m ago
Medial
Tata Starbucks has reaffirmed its commitment to the Indian market, dismissing rumors about its exit. The company stated that it currently operates over 470 stores in 76 Indian cities and sees India as a key growth market. Tata Starbucks, a joint venture between Tata Consumer Products and Starbucks Corporation, reported a 12% increase in revenue for FY24. Despite incurring a loss due to expansion, the company remains focused on scaling up operations and believes that profitability will follow as it expands further. Starbucks entered India in 2012 through its partnership with Tata Group.
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Starbucks brews lower-priced coffee to revive same-store sales | Mint
Livemint
ยท
9m ago
Medial
Starbucks has introduced a discounted 'Classic' coffee menu in select stores in response to declining footfall in the wider food services industry. The menu, launched in September, offers Classic hot and iced coffee at lower prices compared to their regular offerings. The move comes as the restaurant and cafe industry faces a slowdown due to high food inflation. Starbucks reported a 2% rise in revenue for the quarter ending in September, in line with the sector's soft demand trends. The new menu aims to attract more consumers to their stores.
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Starbucks India to more than double store count to 1,000 by 2028
Livemint
ยท
1y ago
Medial
Tata Starbucks, the joint venture between Starbucks and Tata Consumer Products, plans to expand its presence in India with the aim of operating 1,000 cafes by 2028. The company also intends to double its workforce to 8,600 employees. To achieve this growth, Tata Starbucks plans to enter Tier-2 and Tier-3 cities, increase the number of drive-through and 24-hour cafes, and expand its airport-based outlets. This expansion is in response to competition from local chains and aims to capitalize on the growing coffee culture in India.
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Cool beans! cafes are having a field day this summer
Economic Times
ยท
1y ago
Medial
Cafes in northern India are seeing an increase in footfall and sales due to the scorching summer heat. Chains like Third Wave Coffee, Chaayos, AbCoffee, and Boba Bhai are benefiting from the demand for iced beverages and summer-specific menu items. These cafes are also popular among remote workers and individuals seeking refuge from the heat. This growth in the cafe business stands in stark contrast to the decline in sales and footfall reported by restaurants, pubs, and bars in the region. Specialty coffee and tea chains are particularly attracting venture investor interest as they expand their operations. Even Starbucks, in partnership with Tata Consumer Products, has introduced a summer-specific menu. Overall, cafes are capitalizing on the summer season and evolving consumer preferences to drive growth.
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TCS partners with Denmark's Salling Group for IT transformation, AI-based cloud migration
Economic Times
ยท
1m ago
Medial
Tata Consultancy Services (TCS) has partnered with Denmark's Salling Group for a long-term strategic collaboration focused on digital transformation and AI-based cloud migration. The alliance covers 2,100 stores and 68,000 employees across various countries, including brands like BR, Carl's Jr., Starbucks, and multiple grocers. TCS will enhance Salling Group's operations by improving cloud adoption, ecommerce platforms, and operational efficiency with AI-enabled solutions, aligning with Salling's "Aspire 28" strategy for expansion.
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Starbucks India revenue up 12% in FY24, loss widens to โน81 crore
Livemint
ยท
1y ago
Medial
Tata Starbucks Private Limited, the joint venture between Tata Consumer Products Limited and Starbucks, reported a widened loss of โน81 crore and a 12% growth in revenue from operations in fiscal year 2024. The company also opened a record number of stores in India during this period. Despite the weak demand for quick service restaurants, Tata Starbucks remains committed to its goal of opening 1,000 stores in India by 2028. The Indian coffee market is projected to grow at a CAGR of 9.2% until 2028.
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Starbucks India revenue goes past Rs 1,000 Cr in FY23
Entrackr
ยท
1y ago
Medial
Starbucks India, a joint venture between Starbucks and Tata, has recorded impressive growth in the last two fiscal years, surpassing Rs 1,000 crore in operating revenue. Its financial statement reveals a three-fold increase in revenue, reaching Rs 1,087 crore in FY23 compared to Rs 360 crore in FY21. Most of the revenue is generated from the sale of coffee and related products, with additional income coming from the loyalty program, My Starbucks Rewards. The company has significantly reduced losses and improved its ROCE and EBITDA margin. With its high-end positioning and recognition as a global brand, Starbucks holds an advantage over local rivals in terms of controlled promotion costs. However, expensive rentals remain a challenge for further expansion.
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Delhi HC asks Google to suspend misleading links for Starbucks franchise
Economic Times
ยท
1y ago
Medial
The Delhi High Court has ordered Google to suspend certain Google Forms URLs within a week that are offering invitations for Starbucks franchises in India, which do not actually exist. Starbucks and Tata Starbucks, the joint venture behind Starbucks stores in India, had alleged that imposters were seeking personal information from the public for non-existent franchise opportunities. The court also directed Google to provide Starbucks with user details of the registrants of these Google Forms.
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