Starbucks to boost growth in India with 1,000 stores by 2028
Bengaluru: Starbucks has announced plans to expand its presence in India, aiming to operate 1,000 stores in the country by 2028, with the goal of opening a new store every three days, media reports said.
Currently running over 390 stores across 54 cities, including major ones like Mumbai and Delhi, the company intends to double its workforce to approximately 8,600 partners, according to a Business Standard report.
In order to achieve its target, Starbucks will enter Tier-II and Tier-III cities, and expand into drive-thrus, airports, and 24-hour stores, responding to the growing trend towards coffee consumption in India.
The expansion plan is in line with Starbucks' overarching 'Triple Shot Reinvention Strategy,' emphasizing the scaling of operations, enhancing customerexperiences, and contributing to economic growth.
The strategy involves creating new stores to improve customer experiences and showcasing Indian-origin coffee to Starbucks enthusiasts worldwide.
This initiative reflects the company's commitment to a comprehensive and strategic approach for long-term success and global recognition.
Laxman Narasimhan, chief executive officer, of Starbucks said, “Over the past 11 years, the Indian market has grown to become one of Starbucks' fastest-growing markets in the world. With a growing middle class, we are proud to help cultivate the evolving coffee culture while honouring its rich heritage. With our trusted business partner, Tata, and our green apron partners, we are well-positioned to capture the limitless opportunities as we open one store every three days in India and further our aspiration to become truly global.”
Starbucks Coffee Company made its entry into the Indian market in 2012 through a 50:50 joint venture established with Tata Consumer Products Limited.
This partnership allowed Starbucks to leverage Tata's local expertise and resources, facilitating its successful establishment and growth in the Indian coffee market.
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