India's cafe retailing business quite bullish, outlook positive: Tata Starbucks CEO Dash
Changing climatic conditions, the volatility they bring around and lack of consistency are some of the biggest challenges that coffee producing countries, including India, are facing today, said Sushant Dash, CEO, Tata Starbucks, a 50:50 joint venture between Seattle-headquartered Starbucks and Tata Consumer Products Limited.
On the other hand, the coffee consuming countries were increasingly becoming more demanding, they wanted transparency, traceability and sustainability, elements also aimed at ensuring right economic value for the commodity, he said.
Commenting on growing coffee consumption in India, Mr. Dash said although India has been a tea drinking nation, now 20% to 25% of the population were drinking coffee. ''So, the headroom is huge for India and going forward coffee has a huge potential both near term and long term,'' he added.
According to him, the cafe retailing market has been quite bullish in India and its growth outlook is very positive. An evolving coffee culture, with the coexistence of organised cafe chains, standalone entrepreneurial coffee ventures and tiny coffee outlets in villages, together were creating a spiralling impact and a coffee culture was getting created all across the country, he observed.
'We are clearly seeing a spiralling impact and a fast-growing coffee culture across the country, including in small towns. We, Starbucks, are looking for category expansion, a huge growth of the cafe market,'' Mr. Dash further said, indicating that taking market share was't the chain's primary focus.
Buoyed by a rapidly growing cafe culture in metros and small towns across the country in the last two to three years, Starbusks has accelerated its store openings in India ``We see a lot of youngests taking to coffee, although India is a tea country. It is not just a metro feature, but the coffee culture has been spreading across the country. We have 487 cafes in 80 cities. We are very bullish on the market and we will continue to expand wherever we think the need exists,'' Mr. Dash further said.
Tat Starbucks had earlier indicated that it has a target of opening 1,000 Starbucks outlets in India by FY28.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fibre2Fashion
2 hours ago
- Fibre2Fashion
US retailer Nordstrom Rack to open in Flower Mound in Fall 2025
Seattle-based fashion retailer Nordstrom, Inc. (NYSE: JWN) announced plans to open a new Nordstrom Rack in Flower Mound, TX in fall 2025. "We look forward to being a part of the Flower Mound community and serving our customers with an amazing offering of great brands at great prices," said Gemma Lionello, President of Nordstrom Rack. "We're excited to grow our footprint in the Texas market and introduce new customers to the Nordstrom experience." Lionello added that in this location "customers will be able to take advantage of our convenient services such as online order pick up from both and and they can make returns easily." Nordstrom Rack to open a new 30,000 square feet store at The Highlands of Flower Mound, TX in fall 2025. The off-price division of Nordstrom, Inc will offer top brands at up to 70 per cent off, along with services like online order pickup and easy returns. This marks the company's continued expansion in Texas, where it already supports over 3,600 jobs. The 30,000 square-foot store will be located at The Highlands of Flower Mound, a popular shopping center that includes Target, Sephora, and Barnes & Noble. The Highlands of Flower Mound is owned and managed by InvenTrust Properties and is ideally located off of Long Prairie Road and Justin Road in Flower Mound, TX. "We're thrilled to bring Nordstrom Rack to this new community, offering incredible brands and exceptional deals that our customers love," said Mark Vondrak, Vice President of Leasing at InvenTrust Properties . "This opening represents our commitment to delivering an exciting shopping experience for our customers in this northwest Dallas suburb." Nordstrom Rack is the off-price retail division of Nordstrom, Inc. and plays a critical role in the company's Closer to You strategy, which focuses on delivering customers a more convenient and interconnected experience across its stores and digital platforms. Nordstrom Rack offers customers up to 70 percent off on-trend apparel, accessories, beauty products, home decor and shoes from many of the top brands sold at Nordstrom stores as well as core services like online order pickup for and easy returns and alterations at select stores. Nordstrom Rack is the largest source of new customers to Nordstrom. This new location expands the company's physical footprint and economic impact in Texas. It currently operates eight Nordstrom stores and 24 Nordstrom Rack stores in Texas, generating more than 3,600 jobs statewide. Nordstrom is committed to investing in the diverse communities where it operates. Over the past four years, Nordstrom, with its customers, has donated more than $2 million in support of its long-term partnership with Big Brothers Big Sisters of the United States. These proceeds support the recruitment, training and engagement of adult mentors and mentorship moments between Bigs and Littles, including preparing for an interview, learning to tie a tie and helping with homework. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (RM)
Business Standard
3 hours ago
- Business Standard
OneSource collaborates with Xbrane Biopharma AB
For commercial manufacturing of Xbrane's biosimilar portfolio OneSource Specialty Pharma and Xbrane Biopharma AB, a Sweden-headquartered biotechnology company, today announced a partnership focused on the commercial manufacturing of Xbrane's biosimilar portfolio. Xbrane has a portfolio of biosimilar candidates targeting EUR 23 billion in estimated annual peak sales of the respective reference products. The lead candidate Ximluci (a ranibizumab biosimilar) is granted market authorization approval in Europe (launched in 2023) and is now under the approval process for the U.S. launch. As part of the agreement, Xbrane will tech transfer its select product(s) to OneSource's state-of the-art integrated Drug Substance and Drug Product (DS/DP) facility in Bangalore, India. The collaboration aims to strengthen Xbrane's global supply chain, while enabling OneSource to accelerate regulatory approvals, including from the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA), for its biologics drug substance facility. As part of the collaboration, OneSource has also participated in Xbrane's latest funding round, reinforcing the long-term alignment between the two companies.
Time of India
5 hours ago
- Time of India
IPG begins workforce restructuring in India
Last week, the Competition Commission of India (CCI) approved Omnicom's merger with IPG, making India one among the 10 markets where the deal has cleared antitrust scrutiny. Ahead of its $13-billion global merger with Omnicom Group, Interpublic Group (IPG) has initiated workforce restructuring in India, impacting corporate functions like finance and HR. While aiming to protect creative teams, consolidation may lead to role redundancies and potential brand divestitures due to client conflicts. IPG Mediabrands India, however, is not currently downsizing. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: The Interpublic Group IPG ), which owns some of India's largest advertising and media buying agencies including McCann Worldgroup, FCB Group, MullenLowe Lintas and Initiative Media, has started the process of workforce restructuring in India. This comes ahead of its global $13-billion merger with Omnicom Group , said industry executives privy to the December last year, the New York-headquartered Omnicom Group announced the acquisition of the Interpublic Group of Companies Inc (IPG) to create the world's second-largest advertising and media buying network, after WPP- GroupM. IPG is also headquartered in New Group, being the acquirer, is leading the consolidation which may make some roles redundant, said one of the executives, who did not wish to be week, the Competition Commission of India (CCI) approved Omnicom's merger with IPG, making India one among the 10 markets where the deal has cleared antitrust scrutiny."We are centralising corporate functions like finance and accelerating investment in central platform capabilities like production and analytics through greater consolidation," a global spokesperson for IPG Group said in an email reply. He added that "the actions are due to the transformation and restructuring that Interpublic announced in February, and not related to the proposed transaction with Omnicom."The merger process is expected to be completed by 2025-end."In India, the consolidation is starting with functions such as finance, human resources and regional roles. They are trying to insulate creative teams - core to agencies - and keep them intact as far as possible, but some of that may be inevitable in due course," said another executive. "The merged entities may have to let go of brands and associated teams which have direct conflict of interest in case of competing clients."While globally Omnicom is bigger, in India IPG is much bigger with blue-chip clients such as L'Oreal, Air India and Britannia. Omnicom's agencies here are much smaller, such as DDB Mudra, TBWA and addition to creative agencies, the IPG Group's media planning and buying agency network-IPG Mediabrands -Initiative Media, Lodestar UM and Interactive Avenues. It also owns PR firm Weber Shandwick. The group is not currently looking to downsize workforce in media buying, a critical function. Shashi Sinha, executive chairman at IPG Mediabrands, which works on media strategy, buying and planning, said, "There is no downsizing exercise at IPG Mediabrands India with reference to the proposed merger."Queries emailed to a spokesperson of the Omnicom Group remained unanswered till press time.
