Starbucks plans up to 100 new India stores a year
Why it matters: India now has more than 500 Starbucks outlets, but coffee drinkers remain a minority, leaving room for rapid expansion.
Starbucks plans to open 50 to 100 stores a year in India as it pushes deeper into one of its fastest-growing markets. Tata Starbucks, the chain’s joint venture with Tata Group, has more than doubled its footprint to over 500 stores in the past four to five years and holds about 30% of India’s coffee market, CEO Sushant Dash said. The company is adding formats including drive-throughs, highway stores, kiosks and Reserve cafes. Dash said the India business remains loss-making, but it posted double-digit EBITDA growth and cut losses by half in the financial year ended March 31. Starbucks is leaning on India for growth as rising incomes and shifting habits lift coffee demand.