The retail stores will be developed in cities across the country, beginning with stores in Delhi and Mumbai in 2012.
In a separate sourcing and roasting agreement between Starbucks Coffee Company and Tata Coffee, Tata Coffee will roast coffee to supply Tata Starbucks Limited, and to export to Starbucks Coffee Company.
Together, the joint venture will enable an expanded range of beverage offerings for Indian consumers. As an example, the companies have agreed to jointly leverage assets and innovation to offer a premium tea product branded Tata Tazo.
RK Krishnakumar, vice chairman, Tata Global Beverages, said: “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. It opens up exciting business opportunities and new formats for Tata Global Beverages. Starbucks brings unique retail expertise as well as a shared sense of business values.
“We are excited about the opportunities the alliance presents to innovate in the retail space and bring new beverage experiences to more consumers in India, leveraging the global in-home expertise of Tata Global Beverages and the global out-of-home expertise of Starbucks.”
Source: Starbucks Coffee Company
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