Tata Starbucks aims to open nearly 100 Starbucks cafes on pan India level by next year. The move has initiated to match up to establish rivals. The 50-50 joint venture between US café chain Starbucks coffee and Tata Global Beverage is also aiming to create additional 150 million equity shares by increasing its authorized share capital from existing 70 crore.
Speaking on development, Starbucks spokes person said, “Tata Starbucks Limited is focused on a long-term, disciplined and thoughtful growth in this dynamic market, and we will continue to expand while focusing on delivering a premium experience to our customers. We do not release financial information or future store count targets. We are committed to India for the long-term and the JV will invest over time based on the demands of the business and the requirements of our customers to build a strong presence in the market.”