Wednesday, June 19, 2024

Tata Starbucks to accelerate growth to 1,000 stores, double employment in india by 2028

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Following Starbucks long-term Triple Shot Reinvention Strategy unveiled in November, Tata Starbucks Private Limited has announced its ambition of operating 1,000 stores in India by 2028 or one new store opening every three days. The announcement was made a blog on the company’s website. The strategy focuses on skilling local partners for jobs, opening new stores that serve customers with an elevated experience, and promoting Indian-origin coffee to Starbucks customers around the world.

Already a trillion-dollar economy, India is at an inflection point and projected to become the world’s third-largest by 2030 according to economic forecasts, making it a focus area of growth for Starbucks.  India’s strategic importance as one of Starbucks fastest-growing markets globally will see Starbucks doubling-down on its presence in the market.

Through a 50:50 joint-venture between Starbucks Coffee Company and Tata Consumer Products Limited that launched in 2012, Tata Starbucks now operates in over 390 stores across 54 Indian cities, with approximately 4,300 partners (employees) who proudly wear the green apron.

To achieve its target of 1,000 stores by 2028 the company will double its workforce to approximately 8,600 partners as it plans to enter Tier 2 and 3 Indian cities, expand drive-thrus, airports and its 24-hour store footprint to serve customers where they are.

As he visited India this week, Laxman Narasimhan, CEO, Starbucks said, “Over the past 11 years, the India 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 honoring 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.”

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