Starbucks keen to go beyond coffee into food in India

INDIA - India has become the largest market in Asia in terms of food sales for Starbucks, the world’s biggest coffee retailer, its chief executive officer said. Tata Starbucks, the 50:50 joint venture between Starbucks Coffee Company and Tata Global Beverages in India, wants to increase its food play in the country by micro-localising cuisines,…

Starbucks reports 2% sales increase in Q4 2017 financial results

USA - Starbucks Corporation has reported financial results for its fourth quarter and 52-week fiscal year ended October 1, 2017, recording a global comparable store sales increase of 2%, which was driven by a 2% increase in average ticket and a 1% increase in transactions. According to the company, the sales increased up 3% excluding…

Unilever acquires Tazo tea brand from Starbucks for US$384m

USA – Unilever has entered a definitive agreement with beverages major Starbucks to acquire the assets of the Tazo brand including its signature recipes, intellectual property and inventory for US$384 million. Following the transaction, Starbucks will drive a single tea brand strategy, focusing on its super premium tea brand, Teavana, with the aim of furthering its growth…

Starbucks expects India to be among its top 5 markets globally

INDIA - Starbucks, the world’s largest coffee retailer said it expects India to be among the top five businesses without giving a timeline. This is despite the Indian unit posting its slowest sales growth last fiscal after it slowed down expansion. “We are excited on the opportunities that India plays for Starbucks going forward. Today,…