New Delhi: Good news for coffee lovers in India. Starbucks, the largest coffee chain in the world, is setting shop in the country.
The first Starbucks store in India is most likely to open in Gurgaon latest by October this year. Another outlet is planned in South Delhi at Saket's Select Citywalk.
Starbucks has hired a small team for research and development, operations and marketing. The Starbucks’ Indian team is currently based in the Future Group's office in Gurgaon.
Anoop Sequiera, former CEO of Global Franchise Architects, will head Starbucks’ projects in India. New Horizons, the licensee for Starbucks operations in India will set up, operate and manage Starbucks stores in India.
New Horizons is a 51:49 joint venture between Starbucks’ Indonesian franchisee V.P. Sharma and Future Group CEO Kishore Biyani.
In its revised application to the Foreign Investment Promotion Board, it has been stated that Starbucks itself will not hold any equity in the joint venture company, New Horizons.
Starbucks has firmed up locations and the management team and hopes to get government clearance in 2 - 3 weeks
Starbucks will also sell packaged mineral water and other merchandise in its stores.
Starbucks plans to open 100 stores in India in its first five years, and will pump in about Rs 100 crore in the process.
The Coffee retail market is already frothing at over 30 percent. Now, Starbucks' entry will stir the market further
Starbucks has 7,521 self-operated and 5647 licensed stores in 39 countries and is known for its drip-brewed coffee, espresso- and non-espresso-based hot beverages and ice-blended drinks.
Source : http://www.ibnlive.com/news/this-winter-sip-coffee-at-starbucks/43344-7.html
The first Starbucks store in India is most likely to open in Gurgaon latest by October this year. Another outlet is planned in South Delhi at Saket's Select Citywalk.
Starbucks has hired a small team for research and development, operations and marketing. The Starbucks’ Indian team is currently based in the Future Group's office in Gurgaon.
Anoop Sequiera, former CEO of Global Franchise Architects, will head Starbucks’ projects in India. New Horizons, the licensee for Starbucks operations in India will set up, operate and manage Starbucks stores in India.
New Horizons is a 51:49 joint venture between Starbucks’ Indonesian franchisee V.P. Sharma and Future Group CEO Kishore Biyani.
In its revised application to the Foreign Investment Promotion Board, it has been stated that Starbucks itself will not hold any equity in the joint venture company, New Horizons.
Starbucks has firmed up locations and the management team and hopes to get government clearance in 2 - 3 weeks
Starbucks will also sell packaged mineral water and other merchandise in its stores.
Starbucks plans to open 100 stores in India in its first five years, and will pump in about Rs 100 crore in the process.
The Coffee retail market is already frothing at over 30 percent. Now, Starbucks' entry will stir the market further
Starbucks has 7,521 self-operated and 5647 licensed stores in 39 countries and is known for its drip-brewed coffee, espresso- and non-espresso-based hot beverages and ice-blended drinks.
Source : http://www.ibnlive.com/news/this-winter-sip-coffee-at-starbucks/43344-7.html