Tata Starbucks, a joint venture between the Tata Group and Starbucks, posted its first positive EBITDA (earnings before interest, tax, depreciation, and amortization) after sales growth nearly doubled during FY17-18. Tata Global, in its latest annual report, said Tata Starbucks, improved sales by 28% in FY 2017-18 with robust in-store performance and new stores added during the year.
With 116 stores until March, a back-of-the-envelope calculation shows that each Starbucks outlet sold coffee, snacks, and merchandise worth Rs 3 crore. That’s more than rival Coffee Day Enterprises
Starbucks, which started operations in India in October 2012, recorded the fastest store expansion in the company’s 45-year history in the initial few years. Starbucks expanded its partnership with Tata Group beyond India by launching the latter’s single-origin coffee in the US and Himalayan mineral water in Singapore nearly two years ago.