US coffee major Starbucks in talks with Indian corporates: Reports
06 Dec 2010
According to reports, iconic US coffee retailer Starbucks is engaged in talks with a number of domestic corporates having interests in retail and real estates, a move that indicates its renewed interest in the Indian market. According to sources, the Indian corporates include DB Realty and Jubilant Group.
A report in the Times of India, which quoted two unnamed separate sources close to the development said, Starbucks was discussing India plans with potential partners, including Sunil Mittal's Bharti.
They added that the negotiations were still in the early stages and it would be incorrect to suggest that the US company had identified our shortlisted any firms, the added.
Quoting another unnamed source familiar with the development the report said, Starbucks had made a fresh approach to Indian business groups in the past two months.
Analysts say it is significant that the reports of the company's renewed interest in Indian space come following its CEO Howard Schultz, at its biennial investor conference in New York on 1 December, saying that the retailer was in discussions with potential partners to open stores in India.
At the conference, the company unveiled a new business plan, that would focus on major acquisition and expansion activities. According to industry sources, the US company was willing to consider franchise arrangements.
