Teavana Comes to India, thanks to Starbucks!
Starbucks Corporation, a Seattle based company has introduced its global tea business, Teavana in India on 18th January, 2017. The global chief of Starbucks, Howard Schultz had stated a year earlier that the company will look forward to introduce its global tea brand in India.
Howard Schultz had also stated that company is aiming to establish Teavana as a global brand and India was an obvious choice as it is presently the 3rd highest tea consuming country of the world. The comments were made by him at the senior leadership forum of Tata Group in 2016 when Cyrus Mistry was the chairman. Starbucks carries out its operations in India by partnering with Tata Group. Founded in the year 1971, Starbucks presently has eighty eight stores in India and is aiming to capture the 3rd largest economy of Asia with its tea brand.
Tata Starbucks CEO, Sumitro Ghosh stated that the company will try to double its tea sales at the stores through Teavana. Based on industry estimates, in the year 2016, Turkey topped the chart of tea drinking countries in the world followed by China, India and Kenya.
Teavana was acquired by Starbucks in the year 2012 at $620 million. Mr. Ghosh also stated that the company will evaluate the possibilities of launching standalone Teavana tea bars in the country in the near future. Interim chairman of Tata Group, Ratan Tata also has an investment in Teabox, a tea online startup that actually competes with Teavana.
A former employee of a joint venture between Tata Motors and HCM, Japan who allegedly created a fake email ID Read more
Tim Cook is in India and he is mixing business with pleasure, and spirituality. The CEO of the $233 billion Read more
Tata Steel will announce the sale of some of its speciality businesses in Britain but further delay a decision on Read more
Bharti Enterprises Chairman Sunil Mittal is likely to soon replace the erstwhile Tata Group chairman Cyrus Mistry as the co-Chair Read more
