Global coffee chain Starbucks will soon be making its way to India with Tata Global beverages, which formally announcing a joint venture pact with the US-based company on Monday, Jan. 30, 2012.
Although other details were not available at the moment, Tata Group's executives have hinted that the first cafe could open as soon as second half of 2012.
Tata Coffee, part of the diversified group, had signed a memorandum of understanding with Starbucks in 2011 for sourcing and roasting coffee beans in the Indian firm's Kodagu facility in Karnataka.
The entry of Starbucks which has over 16,000 stores in more than 50 countries will give competition to existing Indian coffee retail chains like Cafe Coffee Day and Barista.
Estimates put the size of the Indian organized coffee retail chain market at Rs 1,000 crore.
Although other details were not available at the moment, Tata Group's executives have hinted that the first cafe could open as soon as second half of 2012.
The entry of Starbucks which has over 16,000 stores in more than 50 countries will give competition to existing Indian coffee retail chains like Cafe Coffee Day and Barista.
Estimates put the size of the Indian organized coffee retail chain market at Rs 1,000 crore.
0 comments:
Post a Comment