Tata Starbucks, a joint venture between Starbucks Coffee Company and Tata Consumer Products Limited, has reported a revenue of INR 1087 crore in the fiscal year 2023, representing a 71% increase from INR 635.7 crore in the previous fiscal year. The growth was driven by new retail outlets, with Starbucks' revenue for the quarter increasing by 48% year-on-year. The company added 71 new outlets in FY23, including 22 in the fourth quarter alone, entering 15 new cities during the year. Tata Starbucks aims to expand its presence further and enhance its relevance for more consumer segments.
Tata Starbucks, a joint venture between Starbucks Coffee Company and Tata Consumer Products Limited, reported a revenue of INR 1087 crore in the fiscal year 2023, representing a 71% increase from INR 635.7 crore in the previous fiscal year. The growth was primarily driven by the addition of new retail outlets during the fiscal year, with Starbucks’ revenue for the quarter increasing by 48% year-on-year.
With 333 stores currently in operation, Tata Starbucks added 71 new outlets in FY23, including 22 in the fourth quarter alone. This marks the highest-ever annual store addition, with the company entering 15 new cities during the year. According to Sunil D’Souza, Managing Director & CEO of Tata Consumer Products, Tata Starbucks is looking to expand its presence even further and enhance its relevance for more consumer segments.
Starbucks India Reports A Sales Increase Of 1087 Crore And The Addition Of 71 New Outlets In FY23
In an effort to drive familiarity among consumer segments and create more opportunities for consumers to visit Starbucks, the company ran a pilot across four cities in 2022. The pilot stores demonstrated improved operating metrics, and these workstreams will be rolled out nationally in 2023. Additionally, Tata Consumer Products reported that its My Starbucks Rewards program saw a 100% growth year-on-year, crossing 2.3 million members.
Tata Consumer Products also announced its consolidated net profit for the March quarter at INR 289.56 crore, up 21.1% year-on-year. The company’s revenue from operations stood at INR 3618.73 crore. Sunil D’Souza highlighted the group’s focus on digital transformation, stating that it will be used to drive decision-making in areas such as new product development, procurement, and revenue growth management.
Black coffee is popular for several reasons. For one, it’s a simple and easy way to enjoy the taste and aroma of coffee without any added ingredients. Additionally, black coffee is low in calories and can provide health benefits such as antioxidants and improved mental focus. Many people also enjoy the bitter and strong taste of black coffee and appreciate the cultural significance and history behind this beloved beverage. Overall, black coffee’s popularity can be attributed to its simplicity, taste, and health benefits.
At Truoosh, we’re here to help you navigate this overwhelming world of stuff. All of our market picks are independently selected and curated by the editorial team. All product details reflect the price and availability at the time of publication. If you buy something we link to on our site, Truoosh may earn commission.