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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Starbucks Corporation    SBUX


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Starbucks Corporation : Tata Starbucks Limited Readies for India Market Entry by End of October

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09/28/2012 | 12:40am EDT

Announces first location in Horniman Circle area of Mumbai and appoints Avani Saglani Davda as Chief Executive Officer

Tata Starbucks Limited, the 50/50 joint venture between Starbucks Coffee Company (Nasdaq:SBUX) and Tata Global Beverages Limited, today confirmed that the first store in India will open in the Horniman Circle area of Mumbai by the end of October 2012.

The store will also be the first Starbucks location to feature espresso sourced and roasted locally from India through the coffee sourcing and roasting agreement with Tata Coffee Limited. Espresso sourced from India will be a hallmark feature of all Starbucks stores in the market, highlighting the quality espresso available in India and Tata Starbucks Limited's commitment to delivering a truly unique and authentic Starbucks Experience to customers throughout India.

"We are delighted to be able to announce our progress toward opening our first store in India and to introduce locally sourced espresso," said John Culver, president, Starbucks China and Asia Pacific. "Being able to use the highest quality espresso, sourced and roasted in India, is an important part of delivering a locally relevant experience to our customers in the market." Culver went on to state, "This is the first step Starbucks and Tata Coffee Limited are taking toward developing and improving the profile of Indian-grown arabica coffees around the world by elevating the stature of Indian coffee, as well as improving the quality of coffee through sustainable practices."

"Tata Global Beverages is a company known for bringing memorable tea consumption moments to consumers in India," stated Harish Bhat, CEO, Tata Global Beverages. "The joint venture is in line with Tata Global Beverages' strategy of growing through strategic alliances in addition to organic growth. We are excited about the opportunity to innovate in the retail space and bring new beverage moments to more consumers."

Tata Starbucks Limited today also announced the appointment of Avani Saglani Davda as CEO.

Avani, who has worked for the Tata companies for more than ten years, joined the Tata Group as a TAS (Tata Administrative Service) probationer in 2002. Most recently, she worked in the Vice Chairman's office for Tata Global Beverages, where she was responsible for driving and facilitating key strategies and initiatives for the company as well as Marketing and Business Development assignments. She also played a pivotal role in the development of the joint venture relationship between the two companies in preparation for entry into the India market.

"Avani is the perfect leader for Tata Starbucks Limited," stated R K Krishnakumar, Vice Chairman, Tata Global Beverages. "Working closely with Avani for many years now, I am confident she will bring the local business acumen, customer focus and commitment to delivering the highest quality Starbucks Experience to our customers in India. We are incredibly pleased with the progress of our joint venture and look forward to the opening of our first Starbucks café in October of this year."

Avani will report to the Board of Directors for Tata Starbucks Limited. Continuing to be based in Mumbai, her appointment is effective immediately.

Regarding her appointment, Avani Saglani Davda said, "It is a great privilege to represent this joint venture between two leading beverage companies, and to bring one of the world's most iconic brands into the dynamic India economy. My aim is to deliver the highest quality products, a truly unique and authentic experience to our customers throughout India, and to invest in the communities we serve across the market."

Tata Starbucks Limited will own and operate Starbucks cafés in India.

About Starbucks

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting the highest-quality arabica coffee in the world. Today, with more than 17,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at www.starbucks.com

About Tata Global Beverages and Tata Coffee

Tata Global Beverages is a part of the global Tata Group. Tata Global Beverages is a global beverage business and the world's second largest tea company. The group's annual turnover is US $1.4 bn and it employs around 3000 people worldwide. The Company focuses on 'good for you' beverages and has a stable of innovative regional and global beverage brands, including Tata Tea, Tetley, Himalayan natural mineral water and Eight O' Clock Coffee. For more information, please visit www.tataglobalbeverages.com.

Tata Coffee is a subsidiary of Tata Global Beverages. It is Asia's largest coffee plantation company and the second largest exporter of instant coffee in the country. The Company produces more than 10,000 MT of shade grown Arabica and Robusta coffees at its 19 estates in South India and its two Instant Coffee manufacturing facilities have a combined installed capacity of 6000 metric tonnes. It exports green coffee to countries in Europe, Asia, Middle East and North America. Tata Coffee's farms are triple certified: Utz, Rainforest Alliance and SA8000 reinforcing its commitment to the people and the environment.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50422894&lang=en

Tata Starbucks Limited media contact:
Prerna Korla / Vaishnavi Ramakrishnan
Prerna.korla@edelman.com / Vaishnavi.ramakrishnan@edelman.com
+91-9717-022-726 / +91-7738-025-770
Starbucks media contact:
Christina McPherson, +1-206-318-7100
Tata Global Beverages media contact:
Satya Muniasamy, +91-9008422544
Ajit Pai / Vidhu Aul
ajit.pai@edelman.com / vidhu.aul@edelman.com
+91-96633-94732 / +91-99870-37821

© Business Wire 2012
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Financials (USD)
Sales 2020 23 242 M - -
Net income 2020 744 M - -
Net Debt 2020 11 960 M - -
P/E ratio 2020 118x
Yield 2020 2,19%
Capitalization 88 121 M 88 121 M -
EV / Sales 2019
EV / Sales 2020 4,31x
Nbr of Employees 346 000
Free-Float 99,8%
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Technical analysis trends STARBUCKS CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 35
Average target price 81,07 $
Last Close Price 75,44 $
Spread / Highest target 32,6%
Spread / Average Target 7,46%
Spread / Lowest Target -7,21%
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