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.
company is currently in talks with some domestic coffee
marketing companies other leading companies planning to
enter coffee retail marketing.
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
company will target younger adults to develop a coffee
culture in India where tea is traditionally consumed.
Starbucks operates about 5,200 coffee shops in the United
States and South America, apart from its coffee shops
in 36 other countries.
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.
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.