TATA Starbucks will be banking on product portfolio expansion and opening of different types of store formats to boost its business this fiscal.
The coffee chain major, a joint venture between Starbucks and Tata Consumer Products, is bullish on India as it sees significant long-term growth potential in India’s underpenetrated coffee market.
“India has been a great story so far. We are very optimistic. We now have 506 stores. India is one of the fastest growing markets for Starbucks globally,” TATA Starbucks COO Adrit Mishra told reporters after opening its first Starbucks Reserve store in Kolkata.
Mishra said Starbucks Reserve stores are positioned as destination cafés offering premium coffees sourced globally.
Speaking about the launch, he said Starbucks Reserve reflects the company’s deep-rooted coffee heritage and craft, and this store brings that to life through rare coffees, artisanal brewing methods, thoughtfully curated food and a design language inspired by Kolkata’s rich cultural identity.
The Kolkata outlet is also Starbucks’ first rooftop store in India and spans around 3,600 sq ft, nearly three times the chain’s average India store size of around 1,200 sq ft.
On the overall growth of the coffee chain major, Mishra said, “we are focusing on type of expansion, type of products we innovate, type of experiences we create for consumers. We are focusing on the type of stores that we can open across the country.”
“We started the concept of Starbucks Reserve three years back. We opened our first Reserve store in Mumbai. Last year, we opened the second store in Gurugram. And this year, we opened store in Delhi,” he added.
Seattle-based Starbucks entered the Indian market in October 2012 through a 50/50 Joint Venture with Tata Consumer Products and currently operates more than 500 stores in India across 81 cities.