financetom
Business
financetom
/
Business
/
Tata Starbucks will emerge stronger from COVID-19, to expand presence: TCPL MD & CEO
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Tata Starbucks will emerge stronger from COVID-19, to expand presence: TCPL MD & CEO
Aug 26, 2020 7:25 AM

Tata Starbucks will increase the number of coffee outlets across India and the business will emerge "much stronger" from the coronavirus pandemic as consumers gravitate towards more trusted brands, according to Tata Consumer Products Ltd (TCPL).

Share Market Live

NSE

A 50:50 joint venture between TCPL and Starbucks Corporation, Tata Starbucks, has so far reopened around 60 per cent of its stores in India after the lifting of lockdown even as it opened two stores- one in Delhi and one in Mumbai - operated entirely by women, as part of its commitment to create more opportunities for women and empower them.

"Tata Starbucks is a business on a very strong footing, having delivered very strong growth and great financial improvement year on the year prior to the disruptions due to COVID-19, and we remain focused on expanding its presence further," TCPL Managing Director & CEO Sunil D'Souza told PTI.

"While the business has been impacted by COVID, around 60 per cent of stores have now reopened. Alternative channels such as delivery and takeaway have been strengthened to serve consumers effectively."

D'Souza said the coffee chain will only emerge stronger from the health crisis as it focuses on strengthening relationship with its customers.

"We also remain focused on continuing to build equity with our customer base, engaging them through the digital media, including hosting virtual coffee tasting competitions, running virtual challenges etc and remain confident that the business will emerge much stronger from this pandemic, especially as consumers gravitate to more trusted brands," he said.

Tata Starbucks operates 191 stores across 12 cities in the country and employs over 2,000 people.

Last fiscal, TCPL had invested Rs 53 crore in the JV, taking the total investment to Rs 288.80 crore and added 39 new stores.

"Our joint venture with Starbucks Corporation reflected a growth of 21 per cent for the year due to sales growth in stores coupled with store expansion," TCPL had said in its annual report for 2019-20.

This month, Tata Starbucks had announced, two of its stores to be operated entirely by the women staffs, as part of its ongoing commitment to promote an inclusive and diverse workforce by empowering women leaders.

Tata Starbucks has also launched its first drive-thru store in India at the Ambala Chandigarh Expressway in Zirkapur.

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 >
Market Chatter: Ryanair Seeing Strong Demand in Europe, CEO Says
Market Chatter: Ryanair Seeing Strong Demand in Europe, CEO Says
Aug 14, 2025
08:28 AM EDT, 08/14/2025 (MT Newswires) -- Ryanair ( RYAOF ) is witnessing strong demand in Europe and the airline is reasonably optimistic about hitting its targets for the summer, Reuters reported Thursday, citing an interview with CEO Michael O'Leary. We're seeing strong bookings through the peak summer months ... The fares are holding up, O'Leary told Reuters. According to...
NG Energy Provides Operational Update
NG Energy Provides Operational Update
Aug 14, 2025
08:25 AM EDT, 08/14/2025 (MT Newswires) -- Colombia-focused NG Energy International ( GASXF ) said Thursday that it commenced drilling of the Aruchara-4 well at Maria Conchita, while aggregate gross production from the Sinu-9 well reached 22 million cubic feet per day (MMcf/d). NG Energy ( GASXF ) said the Aruchara-4 well will be drilled to a total depth of...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Fresh Del Monte Produce Forms JV With Managro, Aims to Expand Avocado, Lime Facility in Colombia
Fresh Del Monte Produce Forms JV With Managro, Aims to Expand Avocado, Lime Facility in Colombia
Aug 14, 2025
08:27 AM EDT, 08/14/2025 (MT Newswires) -- Fresh Del Monte Produce ( FDP ) said Thursday it formed a joint venture with Colombia-based fruit exporter Managro Group. The joint venture includes a shared investment to expand an avocado and lime packing house in Colombia, which is aimed at servicing the North American and European markets, Fresh Del Monte said. Financial...
Copyright 2023-2026 - www.financetom.com All Rights Reserved