labels: industry - general
US coffee retailer Starbucks plans India chain news
07 August 2006

US coffee retailer Starbucks Corporation is in talks with potential partners to set up a joint venture in India. The company is currently finalising locations for setting up retail outlets for a possible launch next year.

The company is currently in talks with some domestic coffee marketing companies other leading companies planning to enter coffee retail marketing.

The first Starbucks stores are expected to come up in Delhi or Mumbai. Starbucks is scouting for other locations as well for a grand entry into the retail coffee business in India.

The company will target younger adults to develop a coffee culture in India where tea is traditionally consumed.

Seattle-based Starbucks operates about 5,200 coffee shops in the United States and South America, apart from its coffee shops in 36 other countries.

Starbucks is now planning to open 750 company-operated locations and 650 licensed outlets. Globally, Starbucks will have around 200 company-operated stores and 400 licensed stores.

With average store sales growth of three per cent to seven per cent, the company is targeting net revenue growth of approximately 20 per cent.

Starbucks is planning to invest around $800 million in fiscal 2006, up from the earlier target of $750-775 million, primarily driven by the acceleration in new store development.

 


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US coffee retailer Starbucks plans India chain