Tata Starbucks on Tuesday opened its first Starbucks Reserve store in Mumbai’s Fort area. This new store format is aimed at providing an elevated coffee experience and ambience to customers, Sushant Dash, CEO of Tata Starbucks, said.
The store will provide customers small-lot single-origin coffee from around the world, such as Bolivia Sol de la Mañana, Rwanda Sholi, Sumatra Kerinci. The coffee in this store format will on an average cost around `40 more than the regular stores.
The company does not have immediate plans to open reserve stores in other cities, Dash said.
“We have grown over 300 stores in 36 cities, and in the last three-and-a-half years, we have only accelerated the expansion. We serve nearly 330,000 consumers in a week and we continue to grow which gives us the confidence that there is much more potential out there for coffee in India,” Dash said.
Tata Starbucks turned in a reasonably good performance during the April-June quarter, with same-store sales at 25% above pre-pandemic levels and a break-even at the Ebit level. In FY22, the company reported a 76% growth in revenues at `636 crore. The company has been expanding at a rapid pace and added seven new stores during the April-June quarter.
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