Coffee

Starbucks plans to lay off 1,100 corporate employees globally as new Chairman and CEO Brian Niccol streamlines operations. In a letter to employees released Monday, Niccol said the company will inform employees who are being laid off by mid-day Tuesday. Niccol said Starbucks is also eliminating several hundred open and unfilled positions. Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration, Niccol wrote in the letter. Starbucks has 16,000 corporate support employees worldwide, but that includes some employees who aren't impacted, like roasting and warehouse staff. Baristas in the company's stores are not included in the layoffs. Niccol said in January that corporate layoffs would be announced by early March. He said all work must be overseen by someone who can make decisions while the the Seattle coffee giant reduces the complexity of its structure and eliminates silos within the company that slow communication. Our si

Sixty per cent of the world's coffee is produced by an estimated 12.5 million people working on farms no larger than 50 acres - and most far smaller than that - according to World Coffee Research

Vintage Coffee and Beverages Ltd (VCBL) on Friday posted a more than three-fold jump in consolidated net profit to Rs 12.45 crore for the third quarter of the 2024-25 fiscal on strong sales. The company had reported a net profit of Rs 3.59 crore in the year-ago period. Its total revenue rose to Rs 88.90 crore for the December quarter of the 2024-25 fiscal from Rs 37.85 crore in the year-ago period, according to a regulatory filing. VCBL Managing Director Balakrishna Tati announced plans to expand its production capacity by an additional 4,500 metric per annum (TPA), with the new capacity expected to be commissioned by Q4 FY26. The expansion will be financed entirely through internal accruals. "By increasing our production capacity by nearly 70 per cent to 11,000 TPA, we are strengthening our market position as the leader in soluble coffee supplier in the country and reinforcing our commitment to long-term value creation for our stakeholders," he said. The additional production li

Niccol's annual pay package is likely to be valued at about $113 million at the time of his hiring, with a large part tied to equity to replace awards from his prior employer that he had to relinquish

Hobson previously served as the chairwoman of Starbucks from March 2021 to September 2024, making her the only African American woman to chair a Fortune 500 company at the time of her appointment

Tata Starbucks scales back store openings amid inflationary pressure and real estate challenges. The company remains bullish on India's cafe market, targeting 1,000 stores by 2028

The firm's IoT-enabled machines are installed in offices and public places, including at Microsoft, Facebook, Rashtrapati Bhawan, and the iconic Deccan Queen train

However, Tata Consumer's CEO still expects its bet on coffee to pay off in the longer run as the country's coffee culture grows and cafe density is still low compared with other Asian countries such

Tata Consumer Products sees a huge opportunity in the coffee business in India and will focus on scaling up cafes under its joint venture Tata Starbucks, according to its MD & CEO Sunil D'souza. Tata Starbucks, a 50:50 JV between Tata Consumer Products Ltd (TCPL) and Starbucks Corporation which runs Starbucks cafes in India, plans to take the number to 1,000 cafes by FY2027-28. The JV has 457 stores across 70 cities as of the September quarter. TCPL also expects growth from its vending business Tata MyBistro', a relatively new entrant in the segment offering a variety of coffee, tea and other drinks mainly to institutional customers. "With Starbucks, we are very clear that the store profitability is not an issue. And as we get to scale, we know that we can generate profits out of it," D'souza told PTI. Though, now Starbucks with over 500 outlets has become the largest coffee chain in the country," though it is "significantly under-penetrated" in comparison to similar per capita ..

Sreenivasan raised concerns about the different GST rates for sweets, savouries, and bakery products during an interaction of Sitharaman with MSMEs and Chamber of Commerce in Coimbatore

To Howard Schultz, the chaos he observed at a Starbucks in Chicago one recent morning summed up the troubles of the company he long led as chairman and CEO. Commuters tumbled off trains and into a Starbucks store to pick up the orders they had placed on their cellphones. Drinks weren't ready when the mobile app said they would be. Customers couldn't tell which beverage was theirs. Everyone shows up and all of a sudden we've got a mosh pit, Schultz said during a June episode of the podcast Acquired. That's not Starbucks. Fifty-three years after its founding, the Seattle coffee giant is unhappy with what it's become and trying to figure out how to meet customers' changing needs without losing its coffeehouse roots. To recapture what once made it special and turn around sagging sales Starbucks is turning to Brian Niccol, an experienced marketer who previously led Taco Bell and Chipotle. Niccol takes over as Starbucks' chairman and chief executive on Monday. With nearly 40,000 stor

The coffee penetration in the country is around 14-15 per cent, and at a cafe level, around 25 per cent for the affluent section

The abrupt removal of Indian-origin Starbucks CEO Laxman Narasimhan comes amid declining sales and mounting pressure from activist investors

Starbucks this year rolled out its Siren System plan, which included updating its equipment to increase the pace of service at its stores, as the company turns to discounts and promotions

Tesla's Berlin Gigafactory confronts Ikea coffee cup thefts amid broader controversies over working conditions and environmental impact

Recent research revealed that daily coffee consumption can reduce the risk of death by 60 per cent. The study was conducted in over 13 years in more than 10000 adults

British coffee chain Costa Coffee reported a 49 per cent growth in revenue from operations to Rs 151.8 crore in India, Devyani International Ltd said in the annual report. Its gross profit stood at Rs 116.6 crore, up 45 per cent from the year-ago period, it said. Devyani International Ltd (DIL) is the master franchisee for Costa Coffee, which is owned by global beverage major Coca-Cola. The company added 67 new stores in India in 2023-24, taking its count to 179. "In FY24, revenue from operations stood at Rs 151.8 crore as against Rs 101.8 crore in the previous year, registering a growth of 49 per cent, driven by store expansion. Gross profit stood at Rs 116.6 crore as against Rs 80.4 crore in the previous year," it said. However, its average daily sales per store was down to Rs 32,710 in FY24. It was at Rs 35,085 a year before. "As the new stores stabilise and reach their maturity level, this performance is expected to improve," the company said. DIL is having rapid expansion o

The stakes are high for Starbucks, which has come under growing pressure from investors recently due to weaker sales in its two biggest markets - the United States and China

Since its inception in 2016, Goel, along with co-founders Ayush Bathwal and Anirudh Sharma, has been successfully able to scale the company to over 100 outlets across India

Today, March 11, Google Doodle celebrated 'flat white' coffee with an animated illustration. Flat white is a famous coffee based drink which started in Australia and New Zealand