Starbucks is due to open its first store in India through a 50-50 joint venture with Tata Global Beverages. The first branches will open in Mumbai and New Delhi in September and about 50 stores will follow within the first 12 months.
John Culver, Starbucks president for China and Asia Pacific, said there could be as many as 3,000 Starbucks stores in the world's fastest-growing economy after China. China currently has about 500.
Starbucks declined to comment on the pricing at its future Indian stores. The price of a cup of coffee ranges widely in India, where consumers can spend Rs 53 rupees on a cappuccino at a local chain or Rs 400 on a frappé at The Coffee Bean & Tea Leaf, an international chain that already has a presence in India.
Starbucks arrives at a time when the Indian government is trying to attract more foreign retail investment, but is slow at loosening restrictions.
Strict limits on foreign ownership in India in the past have kept many international brands from setting up shop, including Ikea and Walmart. The latter met with stringent conditions on a recent deal while the Walmart negotiations have been put off altogether.
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Jerzy Kawalerowicz Jerzy Skolimowski Jesie St. James Jesse Capelli Jesse Jane
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