Tata Starbucks said on Tuesday that it will increase its number of locations from its current 390 to 1,000 by 2028.
According to an official announcement, the company, an equal joint venture between the Tata Group and the international coffee brand Starbucks, intends to expand into tier-2 and tier-3 cities in addition to opening a new store every three days.
Starbucks is increasing its footprint in India, which is expected to become the third largest economy in the world by 2030 and is one of the fastest growing markets worldwide.
Tata Starbucks claimed that it will treble its employment to 8,600 workers with the goal of expanding to 1,000 outlets altogether by 2028.
According to the announcement, the JV intends to grow its drive-thrus, airports, and 24-hour shop footprint while also expanding into Tier 2 and 3 Indian cities.
Following his visit to the nation this week, Starbucks CEO Laxman Narasimhan made the news.
The company, which has been operating in India for the past 11 years, is well-positioned to seize “limitless opportunities,” he said, adding that “with a growing middle class, we are proud to help cultivate the evolving coffee culture while honoring its rich heritage.”
According to a media report, the company’s sales increased by 71% to ₹1,087 crore in FY23.
Chief executive and managing director of Tata Consumer Products Sunil D’Souza stated, “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.”
The organization aims to empower women in India by offering vocational skills training to underprivileged young women who aspire to work in the food and beverage retail industry.
“With partners forming the heartbeat of our organization and shaping our success in India, we will continue to make meaningful investments that bridge a better future for all partners,” Tata Starbucks‘ chief executive Sushant Dash said.
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