U.S. coffee chain Starbucks will open it's first store in India in Mumbai by the end of October, the company said in a press release on Friday.
Tata Starbucks Ltd, the equally owned joint venture between Starbucks
Corp. and Tata Global Beverages Ltd, will open the outlet at Horniman Circle in downtown Mumbai.
The company also named Avani Saglani Davda as CEO. Associated with the Tata group for more than a decade, Davda worked in the vice-chairman's office
at Tata Global Beverages, where she was responsible for marketing and business development among other responsibilities.
The store will be the first to feature espresso sourced and roasted locally from India through the agreement with Tata Coffee Ltd.
In January, the company announced it will launch 30-50 outlets in India
in 2012 with an initial investment of Rs.400 crore to be split equally. The first few retail outlets will be launched in Mumbai and New Delhi, followed by other major cities, the company said at the time.
Starbucks had 17,651 stores across the world as of 1 July, according to the company financial statement.
