Starbucks to quit India soon? This is what the brand has said.
Speculation arose about Starbucks exiting the Indian market due to high costs and low profitability. However, Tata Consumer Products, Starbucks' Indian partner, dismissed these rumors, reaffirming their commitment to the market. Despite rising sales, Tata Starbucks has faced increased losses, sparking conversations about aligning with Indian consumer preferences and adjusting pricing strategies.
In India, coffee is not just a beverage, but an emotion that has helped us build memories. And that is the reason all the leading brands have established themselves in the Indian market. From Starbucks to Cafe Coffee Day, the range is pretty vast. But in the most recent news, the buzz has been that Starbucks, the international coffeehouse chain is about to exit the Indian market. Scroll down to read the truth.
There have been reports that due to high operating costs and low profitability with a deviation from Indian consumer preferences, Starbucks is planning to exit the Indian market. The buzz has been due to high rentals, imported ingredients, and price-conscious customers, the brand is facing losses and has decided to exit the Indian market.
For more details: https://timesofindia.indiatimes.com/life-style/food-news/starbucks-to-quit-india-soon-this-is-what-the-brand-has-said/articleshow/116464174.cms
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