Starbucks maintaining coffee-sourcing MOU with India's Tata Coffee following nation's formal removal of limit on foreign investment in single-brand retail
January 12, 2012
– Following the Indian government’s formal removal of the limit on foreign investment in single-brand retail, Starbucks is maintaining a coffee-sourcing memorandum of understanding that it has with Tata Coffee Ltd., Bloomberg reported Jan. 11.
Recently, India nixed a rule that wouldn’t allow foreign single-brand retailers to operate stores without a local partner. The change takes effect immediately.
As a result, said John Culver, the president of Starbucks’ international division, the coffee chain is moving ahead with MOU discussions and planning, and hopes to make an announcement in the near future.
The primary source of this article is Bloomberg, New York, New York, on Jan. 11, 2012.