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    Starbucks to enter India; JV with Tata Global

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    Starbucks to enter India; JV with Tata Global
    Tata Coffee: Quotes, News
    BSE 92.00BSE Quote0.7 (-0.76%)
    NSE 92.00NSE Quote0.9 (-0.98%)
    Starbucks corporation, worlds famous coffee company is planing to enter India, this will be 50:50 joint venture with Tata Global Beverages Ltd. The JV has plans to launch around 30-50 outlets in India with initial investment of Rs 400 crore to be paid equally, this JV will be branded as Starbucks Coffee “A Tata Alliance”.
     

    Tata global beverages Ltd shares surged after the company announced its JV with Starbucks corporation, the shares were trading at Rs 107.25 up by 9.30 points or 9.49%. Tata Coffee shares were up trading at Rs 866.30 up by 0.50 points or 0.06% on BSE. Starbucks corp shares were high trading at $ 48.48 up by 1.32% on NASDAQ.

    The JV will enable an expanded range of beverage offerings for Indian consumers. As an example, the companies have agreed to jointly leverage assets and innovation to offer a premium tea product branded, Tata Tazo.

    “The joint venture with Starbucks is in line with Tata Global Beverages’ strategy of growing through inorganic growth focusing on strategic alliances in addition to organic growth,” stated Mr. R K Krishnakumar, Vice Chairman, Tata Global Beverages.

    “It opens up exciting business opportunities and new formats for Tata Global Beverages. Starbucks brings unique retail expertise as well as a shared sense of business values. We are excited about the opportunities the alliance presents to innovate in the retail space and bring new beverage experiences to more consumers in India, leveraging the global in-home expertise of Tata Global Beverages and the global out-of-home expertise of Starbucks.”

    “We’re very pleased to have found the best partner for Starbucks in Tata – a company that shares so many of the same values for conducting business in a way that earns the trust and respect of our customers and partners (employees),” said John Culver, president, Starbucks China and Asia Pacific.

     

    About Starbucks
    Starbucks corporation is international coffee company based in Seattle, Washington. It is the largest coffeehouse in the world, with more than 17,000 stores around the globe. Since 1992, the stocks of the company rose impressively. The company is the premier roaster and retailer of specialty coffee in the world. For more details can visit www.starbucks.com.

    About Tata Global Beverages and Tata Coffee
    Tata Global Beverages is the worlds largest tea company. Tata Coffee is a subsidiary of Tata Global Beverages. It is Asia’s largest coffee plantation company and the 3rd largest exporter of instant coffee in the country. For more information visit www.tataglobalbeverages.com.

    GoodReturns.in

    Read more about: tata global tata coffee bse
    Story first published: Tuesday, January 31, 2012, 14:38 [IST]
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