Starbucks to launch tea brand in India this yearhttps://indianexpress.com/article/business/business-others/starbucks-to-launch-tea-brand-in-india-this-year/

Starbucks to launch tea brand in India this year

Starbucks operates here under a 50:50 joint venture with Tata Global Beverages and runs 75 outlets across seven cities under the label of Tata-Starbucks since October 2012.

The world’s largest coffee chain Starbucks will launch its international tea brand Teavana in India this year said Howard Schultz, chairman and the chief executive officer of the company. Schultz was speaking at a function organised by the Tata Group in Mumbai.

“We want to build a global footprint for Teavana. We hope to bring Teavana brand of beverages to our stores in India here in 2016,” said Schultz on Thursday.

Starbucks operates here under a 50:50 joint venture with Tata Global Beverages and runs 75 outlets across seven cities under the label of Tata-Starbucks since October 2012.

Schultz emphasised the need for brick and mortar companies to push for innovation as consumers around the world are “embracing e-commerce and mobile as a source of shopping”.

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“We are domestically and around the world are experiencing seismic change in consumer behaviour. We can’t embrace the status quo as an operating principle. We must re-invent our company because if we don’t we are going to be cannibalised by our competitors,” said Schultz.

Schultz said that the global company sees a “significant business opportunity” in India.

“Starbucks will have a major business in India that is much larger than it is today in terms of number of stores that will rival many of the large markets we have around the world. We will bring all of our resources and learning around the digital and mobile eco-system we have built in America. Some of it will arrive this summer in our stores in India that will be a game changer in terms of what we want to do,” he added.