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Starbucks India expected to break-even in FY19

After more than six years of opening its first store, Starbucks India, the premium coffee chain is expected to breakeven by the end of FY19. The news may boost the stock of Tata Global Beverages (TGB), which has lost 30% over the past 12 months. TGB has a 50:50 joint venture with the American coffee giant. Starbucks had 116 stores in FY18 and added another 25 last fiscal. According to a Kotak report, Starbucks’s revenue grew by 28% in FY18 to Rs 342 as against 14% in FY17 due to the higher number of stores and higher sales per store. 

Read More at The Economic Times News date : 24 Jan 2019, Thursday

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