Starbucks Unveils Ambitious Plan to Launch Two New Stores Weekly in India, Aiming for 1,000 Stores by 2028
In a strategic move to tap into the surging demand for coffee in India, Starbucks has outlined plans to open 1,000 stores in the country by 2028, averaging the launch of one new location every three days over the next four years. Currently operating 390 stores in India through a 50% joint venture with Tata Consumer Products, Starbucks is set to double its workforce in the country to 8,600, according to a statement released on Tuesday.
To achieve its ambitious target, Starbucks will focus on expanding its footprint in smaller cities, capitalizing on the burgeoning interest in coffee within the world’s fastest-growing major economy. The coffee giant has been in India for over 11 years, with its first store located in Mumbai, featuring a unique blend of local furniture and city-themed decor.
Starbucks aims to cater to Indian preferences by offering not only its traditional range of lattes and Frappuccinos but also a selection of “Indian-inspired” beverages, including South Indian filter coffee and masala chai – a delightful blend of sweetened milky tea with spices.
During his visit to India this week, Starbucks CEO Laxman Narasimhan highlighted the country as “one of Starbucks’ fastest-growing markets in the world,” emphasizing the significant growth potential, especially with the expanding middle class.
India has become a pivotal market for Western companies, particularly in light of the economic challenges faced by China. Starbucks, while experiencing a slowdown in China, remains committed to its aggressive expansion plans, targeting 9,000 stores in the country by 2025. Despite India’s rapid growth, China continues to be Starbucks’ largest and fastest-growing overseas market, with ambitious investments, including a $200 million campus in eastern China unveiled last year, reflecting the company’s commitment to the region’s market potential.
