financetom
Business
financetom
/
Business
/
Starbucks to add around 10 stores this fiscal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Starbucks to add around 10 stores this fiscal
Feb 10, 2019 11:33 AM

Tata Starbucks, a 50:50 joint venture between Tata Global Beverages and Starbucks Coffee of the US, is planning to add up to 10 new stores in the next two months, taking the total count to around 145 outlets, said a top company official.

Share Market Live

NSE

The premium coffee chain is increasing the number of rollouts as it is getting overall good consumer response, said Tata Global Beverages (TGBL).

"We currently have around 136 stores and we would open another between 5 to 10 stores by the end of the year (fiscal). We have seen an increase in the store roll out. We look at activating more stores roll out in the next few years, what we have seen in the past," TGBL Group CFO L Krishnakumar told PTI.

Tata-Starbucks has recently started food delivery through online food aggregator apps like Swiggy.

The JV has reported around 30 percent growth during the October-December quarter of this fiscal.

Krishnakumar, although refused to share the current revenue, but said: "On run rate, we would be somewhere between Rs 400 crore to Rs 500 crore".

All Tata Starbucks stores are operated by the company itself.

Tata Starbucks sources more than 90 per cent of the coffee from Tata Coffee.

TGBL has introduced some of its premium coffee in the US and some other market by leveraging Starbucks relationship beyond India.

"From value-wise its not significant but important from a brand perspective. There are some premium coffee which has been launched in the Starbucks store in different parts," he added.

Starbucks entered India with the opening of its first store at Horniman Circle in Mumbai in 2012.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
American Express Insider Sold Shares Worth $2,833,527, According to a Recent SEC Filing
American Express Insider Sold Shares Worth $2,833,527, According to a Recent SEC Filing
Sep 5, 2025
04:17 PM EDT, 09/05/2025 (MT Newswires) -- Monique Herena, Chief Colleague Experience Officer, on September 03, 2025, sold 8,695 shares in American Express ( AXP ) for $2,833,527. Following the Form 4 filing with the SEC, Herena has control over a total of 12,266 common shares of the company, with 12,266 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/4962/000112760225021206/xslF345X05/form4.xml ...
What's Going On With Wells Fargo Shares?
What's Going On With Wells Fargo Shares?
Sep 5, 2025
Wells Fargo & Co ( WFC ) shares are trading lower on Friday, caught in a wider market downturn spurred by a surprisingly weak August jobs report that has stoked fears of an economic slowdown. The major indices retreated from recent record highs as investors digested the unsettling labor market data. Get the latest updates on WFC stock here. What...
Georgia Power receives approval for 1,068 MW of new solar energy projects
Georgia Power receives approval for 1,068 MW of new solar energy projects
Sep 5, 2025
Sept 5 (Reuters) - Utility Southern Co's unit Georgia Power ( GPJA ) said on Friday it had received approval from the Georgia Public Service Commission for five new solar site power purchase agreements totaling 1,068 megawatts (MW). The new facilities support the company's Clean and Renewable Energy Subscription (CARES) 2023 program, allowing commercial and industrial customers to subscribe to...
Spring Valley Acquisition Closes $230 Million IPO
Spring Valley Acquisition Closes $230 Million IPO
Sep 5, 2025
04:11 PM EDT, 09/05/2025 (MT Newswires) -- Spring Valley Acquisition (SVACU) said late Friday it closed its initial public offering of 23 million units at $10 a piece for gross proceeds of $230 million. The offering includes 3 million units exercised in full by underwriters under an overallotment option, according to the company. Each unit comprises a class A common...
Copyright 2023-2026 - www.financetom.com All Rights Reserved