Starbucks Nears Store Opening in India (SBUX)
Early last year Starbucks Corp. (NASDAQ: SBUX) began buying coffee from India’s Tata Coffee Ltd. and agreed to discuss opening retail shops in the country with the Indian company. A report from Fox Business indicates that such a deal is…
Early last year Starbucks Corp. (NASDAQ: SBUX) began buying coffee from India’s Tata Coffee Ltd. and agreed to discuss opening retail shops in the country with the Indian company. A report from Fox Business indicates that such a deal is nearing fruition.
Tata hopes to open a Starbucks-branded coffee shop in India by the end of the year. In a country of tea drinkers, it seems as though converting people to coffee drinkers is likely to be an uphill struggle.
But India is the fifth-largest coffee producing country in the world, and more affluent Indians have taken to drinking expensive coffee concoctions.
India exports as much as 80% of its coffee harvest, and Tata markets coffee in the US under the Eight O’Clock brand.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
