Starbucks hopes to announce retail partnership with India's Tata Coffee by end of January, Tata official says; plan is for Starbucks unit to open in country by end of year
January 19, 2012
– According to a senior official at Tata Coffee Ltd., the Indian company is finalizing a retail partnership with Starbucks Corp. and hopes to announce the deal by the end of the month, Reuters reported Jan. 19.
Last year, Starbucks and Tata signed an agreement for Starbucks to buy coffee from India and look into opening stores in the nation.
Tata Managing Director Hameed Huq said that his company plans to open a Starbucks by the end of 2012. The opening was originally scheduled for the middle of last year, but according to Tata Chairman R.K. Krishnakumar, the plan was delayed due to difficulties with acquiring real estate.
The primary source of this article is Reuters, London, England, on Jan. 19, 2012.