Starbucks Coffee Company (NYSE: SBUX) and Tata Global Beverages Limited today announced a joint venture that will own and operate Starbucks cafes throughout India. Under the purview of the joint venture, called TATA Starbucks Limited, cafes will be branded as "Starbucks Coffee 'A Tata Alliance.'" The new retail locations are scheduled to first open in Delhi and Mumbai in 2012.
The companies also announced a separate agreement for sourcing and roasting coffee that will see Tata Coffee Limited roasting and supplying the coffee for the TATA Starbucks Limited joint venture, as well as exporting coffee to Starbucks.
"We're very pleased to have found the best partner for Starbucks in Tata -- a company that shares so many of the same values for conducting business in a way that earns the trust and respect of our customers and partners (employees)," said John Culver, president, Starbucks China and Asia Pacific, in a statement. "We look forward to bringing the Starbucks Experience to customers in India by offering high-quality arabica coffee, handcrafted beverages, locally relevant food, and legendary service."
Mr. R K Krishnakumar, vice chairman of Tata Global Beverages, added: "The joint venture with Starbucks is in line with Tata Global Beverages' strategy of growing through strategic alliances in addition to organic and inorganic growth."
Tata Global Beverages is the world's second-largest tea company.
Most Popular Stories
- Miley Cyrus Performs in Undies After Costume Goes Missing
- HBO No Go During 'True Detective' Finale
- FBI Helping Ukraine Recover Stolen Billions
- Colo. Raises $3.5 Million in Pot Revenue
- Uninsured Rate Continues to Fall
- Kim Jong Un Elected in Remarkable Unanimous Vote
- Neil Young Debuts PonoMusic This Week
- Rodman Calls It Quits With Kim Jong Un
- Growth Expected if Congress Passes Budget
- Shipwright Jobs Offered in N.C.