The CEO said India is one of the company’s fastest-growing markets.
Laxman Narasimhan, CEO of Starbucks who was recently on a trip to India announced a few big plans for the brand in the country. Narasimhan announced the ambition of operating 1,000 stores in India by 2028 – or one new store opening every three days.
“We’ll be bringing the signature Starbucks experience to more customers and communities, including drive-throughs and airport stores, and we’ll be doubling our partner base,” he said in a statement on social media.
Starbucks currently operates over 390 stores across 54 Indian cities in a 50:50 partnership with Tata Consumer Products since 2012.
He also announced the launch of another Starbucks Reserve store in Mumbai. “This is a testament to our long-term commitment to elevate the coffee experience in India," he states.
Narasimhan says the developments are a part of the company’s Triple Shot Reinvention strategy that was announced early last year. The strategy focuses on three priorities: elevating the Starbucks brand; strengthening the company’s digital capabilities; and becoming truly global. It had also announced stretching its global reach and an ambition to accelerate its store expansion to 55,000 globally by 2030.
The brand further plans on expanding vocational skills training for underserved young women seeking careers in the retail and food and beverage industries in India. They will be extending on-the-job learning options for program participants in stores in Bengaluru, Chennai, Delhi, Hyderabad, and Mumbai.
Narasimhan states that India is at a major inflection point. He says over the past 11 years, the India market has grown to become one of Starbucks fastest-growing markets in the world.
“Traditionally India is known for its love of tea, but it has witnessed the emergence of café culture over the past few decades. We are proud to help cultivate the evolving coffee culture while honoring its rich heritage, opening up possibilities for even deeper human connection over coffee,” he added.