<p>Bengaluru: Even though India is primarily a tea drinking nation, with coffee penetration only at 15-20 per cent, there is potential headroom for growth, Tata Starbucks India Chief Executive Officer (CEO) Sushant Dash told DH in an interview. The global coffee giant which functions as a 50-50 venture with Tata Consumer Products in India is betting on the expanding economy and the premium audience for its growth in India. </p>.<p>“The cafe culture is also growing at a much faster pace which is also why we continue to be bullish,” he added. While competition exists, Tata Consumers' Sunil D’souza previously had boasted a target of opening 1,000 Tata Starbucks stores by financial year (FY) 2027-28. However, Dash did not align with the projected numbers and said that they will continue to grow at the same pace. He also pointed out difficulty in finding places for setup as rent continues to increase and infrastructure development is only gearing up at a certain pace. </p>.Scalded by hot tea, US delivery driver to get Rs 432 cr from Starbucks.<p>In FY24, the coffee chain’s loss widened to Rs 81 crore, as compared to Rs 23.9 crore it had reported a year earlier, while revenue grew 12%.</p>
<p>Bengaluru: Even though India is primarily a tea drinking nation, with coffee penetration only at 15-20 per cent, there is potential headroom for growth, Tata Starbucks India Chief Executive Officer (CEO) Sushant Dash told DH in an interview. The global coffee giant which functions as a 50-50 venture with Tata Consumer Products in India is betting on the expanding economy and the premium audience for its growth in India. </p>.<p>“The cafe culture is also growing at a much faster pace which is also why we continue to be bullish,” he added. While competition exists, Tata Consumers' Sunil D’souza previously had boasted a target of opening 1,000 Tata Starbucks stores by financial year (FY) 2027-28. However, Dash did not align with the projected numbers and said that they will continue to grow at the same pace. He also pointed out difficulty in finding places for setup as rent continues to increase and infrastructure development is only gearing up at a certain pace. </p>.Scalded by hot tea, US delivery driver to get Rs 432 cr from Starbucks.<p>In FY24, the coffee chain’s loss widened to Rs 81 crore, as compared to Rs 23.9 crore it had reported a year earlier, while revenue grew 12%.</p>