The new site is part of its strategy to make inroads into ‘the heartlands of India’, with Tier 2 and 3 cities set to play a key role in its ambitions to reach 1,000 stores by 2028
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Starbucks in Coimbatore, Tamil Nadu | Photo credit: Starbucks
Tata Starbucks has reached 400 stores in India with a new outlet in the city of Coimbatore, Tamil Nadu.
The coffee chain said the new store marks a significant milestone in its bid to reach 1,000 stores by 2028 and forms parts its growth plan to penetrate ‘deeper into the heartlands of India’.
In January 2024, Tata Starbucks said expansion will focus on opening more stores in India’s Tier 2 and 3 cities, as well as scaling its smaller-store footprint, including drive-thru, airport and 24-hour stores.
“As we reinforce our dedication to providing the distinctive Starbucks experience across the country, we couldn’t be more delighted to unveil our 400th store in the industrial city of Coimbatore in Tamil Nadu that is aimed at enriching the community, celebrating local culture, and creating special moments for our customers,” said Sushant Dash, CEO, Tata Starbucks.
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Tata Consumer Products Limited and Starbucks formed Tata Starbucks in 2012 with the first store of the 50/50 joint-venture opening in the Elphinstone Building, Mumbai, in October of the same year. The partnership has since seen Starbucks stores open in more than 60 Indian cities.
Tata Starbucks achieved 7% year-on-year sales growth in its third quarter ending 31 December 2023, down from 21% and 14% in its first and second quarters amid weaker consumer spend, and significantly lower than 42% sales growth in the corresponding period of 2022.