India tops fastest growing markets: Starbucks Corp

StarbucksStarbucks Corp. which is mulling to introduce liquor in its ”evening menu” has said in a statement that India was the fastest growing market in its history. The coffee company has 40 stores in 17 months of being operational in India. The US-based coffee chain, which has a joint venture with Tata Global Beverages, had opened its first outlet in Mumbai in October 2012.

“With 40 stores in four cities (in 17 months) and nearly 1,000 partners, India is the
fastest growing market in Starbucks history,” said Tata-Starbucks chief executive
Avani Davda in an annual shareholders meet. Tata Starbucks currently has presence
in Mumbai, Delhi, Pune and Bengaluru and has its coffee plantations in the Kodagu
area of Karnataka.

The coffee giant has been operating over 20,000 stores across 64 countries globally,
serving over 70 million customers per week. Starbucks chairman, president and chief
executive Howard Schultz told shareholders that the company would continue to
reinforce the ongoing investments in 200,000 Starbucks partners (employees),
including $250 million in their healthcare benefits and $234 million in bean stock in
fiscal 2013.

Medaram Jathara

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