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India's Tata faces pressure in Starbucks joint venture as consumers cut back
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India's Tata faces pressure in Starbucks joint venture as consumers cut back
Dec 16, 2024 2:20 AM

Dec 16 (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.

"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.

Separately, D'Souza also said Tata Consumer's revenue would

increase in the double-digit percentage range in the second half

of the ongoing financial year, with profit coming under pressure

due to higher prices of raw materials, including tea.

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