Tata Consumer Refutes Starbucks Exit Rumors in India

Tata Consumer Products confirms Starbucks' commitment to India and plans for expansion despite recent speculation.

Tata Consumer Products denied reports suggesting Starbucks' exit from India, labeling them as baseless.
The company reaffirmed its partnership with Starbucks and its goal to operate 1,000 stores in India by 2028.
Starbucks currently operates over 450 stores across 70 cities in India, doubling its presence in the last four years.
Despite a 12% revenue increase in FY24, losses widened to ₹81 crore due to expansion and operational costs.
Plans for new store openings have been slightly adjusted to account for lower footfalls, but long-term expansion targets remain unchanged.