 "Starbucks plans to accelerate growth to 1,000 stores in India by 2028")
American coffee chain Starbucks said that it plans to more than double its presence in the country by operating 1,000 stores in India by 2028 – by opening one new store every three days.
The company currently operates over 390 stores across 54 Indian cities, including Mumbai, New Delhi, Hyderabad, Chennai, and Bengaluru.
To achieve its target of 1,000 stores by 2028 – fuelled by a growing trend towards coffee – the company will double its workforce to approximately 8,600 partners as it plans to enter Tier-II and Tier-III Indian cities, expand drive-thrus, airports, and its 24-hour store footprint to serve customers where they are.
Tata Starbucks also announced that it will open a second Starbucks Reserve store in the country – the first being in Fort, Mumbai -- later this year.
The chain will also be introducing a new Indian Arabica coffee – Monsooned Malabar, which will be available at both the Reserve Stores in India and the United States of America from later this year.
Starbucks Reserve is a selection of the chain’s most rare and extraordinary coffees available on their menus.
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“Over the past 11 years, the India market has grown to become one of Starbucks' fastest-growing markets in the world. With a growing middle class, we are proud to help cultivate the evolving coffee culture while honouring its rich heritage,” said Laxman Narasimhan, chief executive officer, Starbucks.
The Starbucks Coffee Company had entered India in 2012 through a 50:50 joint venture with Tata Consumer Products Limited.
“Tata Consumer Products and Starbucks have enjoyed a remarkable journey, elevating India’s coffee culture and craftsmanship rooted in high-quality Indian Arabica coffee beans. As we move into the next chapter of growth, we will continue to develop India’s coffee culture to deepen connections with our customers, while innovating to bring our unique Indian offerings to the global stage,” said Sunil D'Souza, chief executive officer and managing director, Tata Consumer Products.