Tata Starbucks, the 50/50 joint venture between Starbucks Coffee and Tata Global Beverages, plans to open nearly 100 new outlets in India by 2014.
This latest development is part of the company's strategy to compete with established rivals Cafe Coffee Day, Barista Lavazza, Costa Coffee. In order to support its expansion plans, the company is more than trebling its authorized capital to INR2.2bn ($35m).
The company's spokesperson was quoted by The Economic Times as saying that, "The joint venture will invest over time, based on the demands of the business and the requirements of our customers, to build a strong presence in the market."
As part of the expansion, the coffee chain has already signed around 24 properties, including in the suburbs of Mumbai and Bangalore, a real estate official familiar with the Starbucks' expansion plans told the newspaper.
Starbucks entered the Indian market in October in 2012. Presently, it operates 18 stores across the country. The company, through an agreement with Tata Coffee, serves coffee that is 100% locally sourced and roasted.
Besides its usual products offered internationally, Starbucks in India offers few Indian style product offerings such as Tandoori Paneer Roll, Elaichi Mawa Croissant, Murg Tikka Panini and Chai Tea Latte.
This latest development is part of the company's strategy to compete with established rivals Cafe Coffee Day, Barista Lavazza, Costa Coffee. In order to support its expansion plans, the company is more than trebling its authorized capital to INR2.2bn ($35m).
The company's spokesperson was quoted by The Economic Times as saying that, "The joint venture will invest over time, based on the demands of the business and the requirements of our customers, to build a strong presence in the market."
As part of the expansion, the coffee chain has already signed around 24 properties, including in the suburbs of Mumbai and Bangalore, a real estate official familiar with the Starbucks' expansion plans told the newspaper.
Starbucks entered the Indian market in October in 2012. Presently, it operates 18 stores across the country. The company, through an agreement with Tata Coffee, serves coffee that is 100% locally sourced and roasted.
Besides its usual products offered internationally, Starbucks in India offers few Indian style product offerings such as Tandoori Paneer Roll, Elaichi Mawa Croissant, Murg Tikka Panini and Chai Tea Latte.
