Starbucks, the global coffee giant, is turning its attention towards India in an effort to boost its international sales. With a clear focus on expanding in the world's fifth-largest economy, Starbucks plans to operate a whopping 1,000 stores in India by 2028, opening a new store every three days. In addition to expanding its store network, the company also aims to double its workforce in India, increasing its employee count to approximately 8,600.
Currently, Starbucks has more than 390 stores in India across 54 cities, thanks to its joint venture with local partner Tata Starbucks. While the majority of these stores are located in Tier 1 and Tier 2 cities with larger populations, Starbucks intends to broaden its reach by expanding into Tier 2 and Tier 3 cities as part of its new expansion strategy.
Laxman Narasimhan, Starbucks' CEO, highlighted the significance of the Indian market, stating, "Over the past 11 years, the India market has grown to become one of Starbucks' fastest-growing markets globally. With a growing middle class, we are proud to contribute to the development of the evolving coffee culture while respecting its rich heritage."
Starbucks' international strategy has predominantly centered around China in recent years, resulting in it becoming the company's second-largest market. However, while Starbucks remains optimistic about its prospects in China, it envisions even greater success in other international markets.
The company's ambitious goal is to operate a total of 55,000 stores worldwide by 2030, representing an almost 50% increase from its current number of stores. The majority of these new stores will be established outside of North America, with a particular focus on Southeast Asia and Latin America.
Starbucks' expansion plans demonstrate its commitment to capturing the attention and loyalty of coffee lovers around the globe. As the company continues to forge its path towards global domination, India's rapidly growing middle class and evolving coffee culture present an immense opportunity for Starbucks to make its mark.