Starbucks tie-up with Tata

US-based coffee chain Starbucks and India’s Tata Group today announced an equal joint venture to open 50 cafes in the country in the first year of operations entailing an investment of Rs 400 crore (Rs 4 billion).

Beverages Vice-Chairman R K Krishnakumar told reporters at a joint press conference in New Delhi.

Tata Global Beverages signed a joint venture agreement with the US-based coffee giant, which sets forth the vision of developing the business here. Each party will hold 50 per cent in the JV.

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Courtesy : Jehangir Bisney

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