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Starbucks is betting big on India as it reveals its plans to open 1,000 stores in the country by the year 2028. This means the coffee chain is set to inaugurate two or three stores weekly.
Starbucks India faces intense market competition as local and other foreign brands, such as the UK's Pret A Manger, Canada's Tim Hortons, and India's Blue Tokai coffee chain, are also expanding their businesses in the region. By setting up more stores, Starbucks hopes to boost its presence further and gain more customers despite the arrival of new coffee houses.
How Starbucks is Planning to Achieve the Goal
According to CNN Business, with its target of putting up 1,000 branches in India in four years, it was estimated that Starbucks must open at least one new store every three days until 2028. The Indian unit of the company set up this goal as the demand for coffee in the territory has surged. The country is also the fastest-growing economy today, so business expansion would be beneficial later on.
In any case, to successfully reach the target, Starbucks will focus first on launching new shops in smaller cities. It will hire more staff to double the number and employ 8,600 people. The company also plans to install more drive-thrus, airport stores, and open outlets to serve customers 24 hours.
More Starbucks Options is Coming for Indian Customers
Business Standard reported that the company will also open Starbucks Reserve outlets besides the standard store. So far, India only has one, and the second is set to be inaugurated later this year.
It was reported that the chain will introduce a new Indian Arabica coffee called the Monsooned Malabar via the two Reserve Stores in India. The coffee blend will also be brought to the United States of America sometime this year.
"Over the past 11 years, the Indian market has grown to become one of Starbucks' fastest-growing markets in the world," Starbucks's chief executive officer, Laxman Narasimhan, said in a statement. "With a growing middle class, we are proud to help cultivate the evolving coffee culture while honoring its rich heritage."
Photo by: Ira Ostafiichuk/Unsplash
