Coffee

Coffee is a huge opportunity, scaling up Starbucks biz: TCPL CEO & MD

Tata Consumer Products sees a huge opportunity in the coffee business in India and will focus on scaling up cafes under its joint venture Tata Starbucks, according to its MD & CEO Sunil D'souza. Tata Starbucks, a 50:50 JV between Tata Consumer Products Ltd (TCPL) and Starbucks Corporation which runs Starbucks cafes in India, plans to take the number to 1,000 cafes by FY2027-28. The JV has 457 stores across 70 cities as of the September quarter. TCPL also expects growth from its vending business Tata MyBistro', a relatively new entrant in the segment offering a variety of coffee, tea and other drinks mainly to institutional customers. "With Starbucks, we are very clear that the store profitability is not an issue. And as we get to scale, we know that we can generate profits out of it," D'souza told PTI. Though, now Starbucks with over 500 outlets has become the largest coffee chain in the country," though it is "significantly under-penetrated" in comparison to similar per capita ..

From filter coffee to viral blend: Annapoorna steams up headlines

Sreenivasan raised concerns about the different GST rates for sweets, savouries, and bakery products during an interaction of Sitharaman with MSMEs and Chamber of Commerce in Coimbatore

Starbucks appoints Brian Niccol as CEO after struggles with mobile orders

To Howard Schultz, the chaos he observed at a Starbucks in Chicago one recent morning summed up the troubles of the company he long led as chairman and CEO. Commuters tumbled off trains and into a Starbucks store to pick up the orders they had placed on their cellphones. Drinks weren't ready when the mobile app said they would be. Customers couldn't tell which beverage was theirs. Everyone shows up and all of a sudden we've got a mosh pit, Schultz said during a June episode of the podcast Acquired. That's not Starbucks. Fifty-three years after its founding, the Seattle coffee giant is unhappy with what it's become and trying to figure out how to meet customers' changing needs without losing its coffeehouse roots. To recapture what once made it special and turn around sagging sales Starbucks is turning to Brian Niccol, an experienced marketer who previously led Taco Bell and Chipotle. Niccol takes over as Starbucks' chairman and chief executive on Monday. With nearly 40,000 stor

Will keep introducing innovations in beverages and food: Tata Starbucks CEO

The coffee penetration in the country is around 14-15 per cent, and at a cafe level, around 25 per cent for the affluent section

Who is Laxman Narasimhan and why Starbucks fired its CEO after a year?

The abrupt removal of Indian-origin Starbucks CEO Laxman Narasimhan comes amid declining sales and mounting pressure from activist investors

Starbucks' efficiency gains bolster profit even as China, US drag sales

Starbucks this year rolled out its Siren System plan, which included updating its equipment to increase the pace of service at its stores, as the company turns to discounts and promotions

'No more mugs until thefts stop': Coffee brews trouble at Tesla plant

Tesla's Berlin Gigafactory confronts Ikea coffee cup thefts amid broader controversies over working conditions and environmental impact

Non-coffee drinkers at 60 per cent more risk of dying, study reveals

Recent research revealed that daily coffee consumption can reduce the risk of death by 60 per cent. The study was conducted in over 13 years in more than 10000 adults

Costa Coffee posts 49% rise in revenue to Rs 152 cr in FY24, adds 67 stores

British coffee chain Costa Coffee reported a 49 per cent growth in revenue from operations to Rs 151.8 crore in India, Devyani International Ltd said in the annual report. Its gross profit stood at Rs 116.6 crore, up 45 per cent from the year-ago period, it said. Devyani International Ltd (DIL) is the master franchisee for Costa Coffee, which is owned by global beverage major Coca-Cola. The company added 67 new stores in India in 2023-24, taking its count to 179. "In FY24, revenue from operations stood at Rs 151.8 crore as against Rs 101.8 crore in the previous year, registering a growth of 49 per cent, driven by store expansion. Gross profit stood at Rs 116.6 crore as against Rs 80.4 crore in the previous year," it said. However, its average daily sales per store was down to Rs 32,710 in FY24. It was at Rs 35,085 a year before. "As the new stores stabilise and reach their maturity level, this performance is expected to improve," the company said. DIL is having rapid expansion o

In China Starbucks tries to avoid price war, gets drawn into discounting

The stakes are high for Starbucks, which has come under growing pressure from investors recently due to weaker sales in its two biggest markets - the United States and China

Third Wave Coffee CEO Sushant Goel steps down; Rajat Luthra to replace him

Since its inception in 2016, Goel, along with co-founders Ayush Bathwal and Anirudh Sharma, has been successfully able to scale the company to over 100 outlets across India

Google Doodle celebrates 'flat white coffee' with animated illustrations

Today, March 11, Google Doodle celebrated 'flat white' coffee with an animated illustration. Flat white is a famous coffee based drink which started in Australia and New Zealand

Coffee exports from India decline by 5.4% to 377,000 tonne in 2023

Coffee shipments from India declined 5.4 per cent to 3.77 lakh tonne in 2023 due to a fall in the shipment of Robusta coffee, according to the official data. The country had exported 3.98 lakh tonne of coffee in 2022. India, Asia's third-largest producer and exporter, grows Arabica and Robusta variety of coffee. Arabica coffee bean has lesser caffeine content than the Robusta. Arabica has a sweet and smoother taste, while the Robusta is generally more bitter and harsher on the taste buds. According to the Coffee Board of India's latest data, export of Robusta coffee bean declined 15 per cent to 1.87 lakh tonne in 2023, from 2.20 lakh tonne in the previous year. However, the shipment of Arabica coffee bean rose 5.79 per cent to 46,869 tonne in 2023 from 44,302 tonne in the previous year. Even Instant Coffee exports rose 6.68 per cent to Rs 1.42 lakh tonne as against 1.33 lakh tonne in the said period, as per the data. In terms of value, total coffee exports were at Rs 9,580.58 cr

TMS Ep606: NRI homes, coffee culture, Vodafone Idea, maritime corridor

Are NRIs driving up prices of homes? Has India matured as a coffee drinking nation? Is the rally in Vodafone Idea overdone? What is the Chennai-Vladivostok maritime corridor? Answers here

Tata Starbucks reports loss of Rs 24.97 cr, revenue up 70% in FY23

Tata Starbucks has reported a net loss of Rs 24.97 crore from its operations in India for the financial year ended March 31, 2023, according to financial data accessed through business intelligence platform Tofler. However, its revenue from operations was at Rs 1,086.89 crore for the said period, up 70 per cent helped by the addition of more cafes and expansion of the network in more cities in India. In India, Starbucks cafes are operated by Tata Starbucks Pvt Ltd. It is a 50:50 Joint Venture between Tata Consumer Product Ltd (TCPL) and Emerald City CV, a wholly-owned entity of Starbucks Corporation, USA. Tata Starbucks had reported a net loss of Rs 94.84 crore in FY22 and its revenue from operations was at Rs 636.11 crore. In FY23, Tata Starbucks' Advertising promotional expenses increased 84.45 per cent to Rs 34.05 crore. It was at Rs 18.46 crore a year ago. Besides, it has also paid a royalty of Rs 76.83 crore in the financial year ended March 31, 2023. Tata Starbucks has exp

Starbucks plans to double stores in India as coffee consumption booms

The global coffee giant wants to operate 1,000 stores in India by 2028, and the focus will be in so-called tier-2 and tier-3 cities - those outside of its biggest metropolises

Tata Consumer Products in talks for acquisitions to expand globally: Report

CEO Sunil D'Souza hinted that the company would not acquire in the sector where there is already fragmentation like fizzy drinks and processed snacks

Nestle says India, China are 'big focus' for growth of coffee market

"China is really a big focus, and India is a big focus," Navratil said

India priority market for Costa Coffee: Global CEO Philippe Schaillee

The brand opened its 150th store in India in New Delhi on Thursday

Third Wave Coffee raises $35 mn in series C funding round led by Creaegis

Third Wave Coffee is present in several major Indian cities, including Bangalore, Mumbai, Delhi, Gurgaon, Pune, Hyderabad, Noida, Coonoor, and Chandigarh