Starbucks aims to hasten its India expansion with smaller stores and drive-through outlets, the CEO of its local partner said on Monday, signalling the American coffee chain's bullish plans as the COVID-19 slowdown abates in the country. Launched in India in 2012, Tata Starbucks - a joint venture between Starbucks and India's Tata Consumer Products - operates 233 outlets across 19 Indian cities. Both the partners "are driving Tata Starbucks to be far more aggressive in store openings, new formats, and in entering new cities," Sunil D'Souza, CEO of Tata Consumer Products, said in an interview on Monday.
Dutch Bros. catches attention, while Starbucks remains attractive for both Wall Street and Main Street.
Starbucks (NASDAQ: SBUX) made a huge rebound in its fiscal third quarter after a year of pandemic-pressured declines. When that Q4 report arrives next week, the most important metric for investors to focus on -- the one that should give them the clearest insights about Starbucks' real progress -- will be U.S. comps growth. Starbucks has become the world leader in coffee shops through its focus on beverage innovation and community gathering.