TIL Desk/Business/Mumbai/Seattle-Tata Sons and Starbucks have finalised multiple new joint initiatives to expand their collaboration at a global level, apart from building the iconic American coffee chain’s brand and business here. The initiatives include sourcing Indian coffee for the US market, introducing the Teavana brand of specialty teas in Indian stores, expanding the market of the Tata-owned mineral water brand Himalayan and skilling over 3,000 youths, the companies said.
Tata Sons Chairman Cyrus Mistry met Starbucks Chairman and Chief Executive Howard Schultz last week in Seattle and finalised these initiatives, which will be rolled out by the year-end, the companies said in a joint statement today. The two groups have been running Tata Stabucks coffee chain in the country since October 2012 as part of a joint venture.
The JV operates 80 stores in six key cities, but that is way below the initial target as they had set a target of opening 50 stores in the first year itself. The company has been citing difficulty in getting the right retail location as the main reason for the slower expansion. “Starbucks now spans over more than 80 stores across six Indian cities. As we continue on our journey with the Tatas, we are delighted to introduce the finest coffee from India to a new audience,” Shultz said in the statement.
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