In a move to maintain its rapid expansion, Tata Beverages has proposed to increase the authorised capital by Rs 130 crore.
Starbucks which entered India with 50-50 joint venture with Tata Beverages is increasing authorised capital in the country to Rs 350 crore to maintain its rapid expansion drive. The coffee chain has proposed to increase its authorised capital by Rs 130 crore.
Not only this Tata Starbucks is planning to open 50 outlet in the Indian portfolio and is currently present in six cities — Mumbai, Delhi NCR, Bangalore, Pune, Chennai and now Hyderabad.
Speaking on the expansion plans, John Culver, Group President, Channel Development and Emerging Brands, Starbucks China and Asia Pacific, said, “We remain deeply excited about our journey in India and we will continue to deliver on our promise of offering an unparalleled coffeehouse experience to every customer, every time they visit our stores as well as nurturing our biggest assets — our partners.”