Starbucks' Expansion Plan In India: Open One Store Every Three Days In India, Hit 1000 Stores By 2028

Just about two months after unveiling its plan to save $3 billion in costs in three years, Starbucks has announced another big plan for the coffee giant's stores in India.

What Big Announcement Has Starbucks Made?

getty

Tata Starbucks Private Limited, which is a joint venture between Starbucks Coffee Company and Tata Consumer Products Limited, has announced its ambition of hitting the 1,000-store mark in India by 2028, or opening one new store every three days.

As per the coffee giant, its strategy focuses on skilling local partners for jobs, opening new stores that serve customers with an elevated experience, and promoting Indian-origin coffee to Starbucks customers around the world.

Also Read: How Coffee Giant Starbucks Also Works As An 'Unregulated' Bank

Why Has Starbucks Chosen India For Its Big Plan?

starbucks

As per Starbucks' press release on Tuesday, India, which is already a trillion-dollar economy, is at an inflection point and projected to become the world¡¯s third-largest by 2030, according to economic forecasts. This makes it a focus area of growth for Starbucks. Also, India¡¯s strategic importance as one of Starbucks fastest-growing markets globally will see Starbucks double down on its presence in the market.

At present, Tata Starbucks operates in over 390 stores across 54 Indian cities, with approximately 4,300 partners (employees).

Also Read: New Starbucks CEO Reveals His Favourite 'Go-to Drink'

How Does Starbucks Plan To Hit 1,000 Stores By 2028?

In order to achieve its target of hitting 1,000 stores by the year 2028, Starbucks will double its workforce to approximately 8,600 partners as it plans to enter Tier 2 and Tier 3 Indian cities, expand drive-thrus, airports, and its 24-hour store footprint to serve customers.

What Does The Starbucks CEO Have To Say About The India Plan?

starbucks

As he visited India this week, Starbucks¡¯ CEO Laxman Narasimhan shared his enthusiasm: ¡°Over the past 11 years, the India market has grown to become one of Starbucks fastest-growing markets in the world. With a growing middle class, we are proud to help cultivate the evolving coffee culture while honouring its rich heritage. With our trusted business partner, Tata, and our green apron partners, we are well-positioned to capture the limitless opportunities as we open one store every three days in India and further our aspiration to become truly global.¡±

For the latest and more interesting financial news, keep reading Indiatimes Worth. Click here