Tata Consumer Products Limited (TCPL) has strongly refuted reports suggesting Starbucks’ exit from the Indian market, calling them “baseless and speculative.” The statement comes amidst rumors circulating in certain media outlets about the global coffee chain reconsidering its joint venture in India.
Source:- bbc news
In a statement released on Tuesday, TCPL emphasized that Starbucks remains committed to the Indian market, which has been witnessing consistent growth. The Tata Starbucks joint venture, a 50:50 partnership between Tata Consumer and Starbucks Corporation, continues to expand its presence across the country.
Source:- news 18
The company highlighted the robust performance of Tata Starbucks, pointing to its growth in revenue and the addition of new stores in 2024. As of now, Tata Starbucks operates over 350 stores across more than 40 cities in India, showcasing its confidence in the potential of the Indian market.
TCPL reiterated its commitment to nurturing the Tata Starbucks brand, which has become synonymous with premium coffee and a welcoming café experience in India. The company further dismissed the rumors as unfounded and stressed that Starbucks’ Indian operations remain an integral part of its growth strategy.
Starbucks entered India in 2012 through its joint venture with Tata Consumer and has since established itself as a leader in the premium coffee segment. Despite challenges posed by the pandemic, the brand has bounced back with innovative offerings and a strong digital presence, cementing its foothold in the country.
This clarification from TCPL underscores the resilience of the Tata Starbucks partnership and the enduring appeal of Starbucks to Indian consumers, putting an end to speculation regarding its exit from the market.
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