- March 28, 2019 / 2 min readTata Starbucks is eyeing huge expansion drive in the next few years.
Tata Global Beverages Ltd (TGBL) has said that Tata Starbucks, a 50:50 joint venture between Tata Global Beverages and Starbucks Coffee of the US, is eyeing huge expansion drive in the next few years.
Rakesh Sony, Global Head (strategy and M&A), Tata Global Beverages Ltd, said, "TGBL is in the process of consolidation. If you look at our India business, in the first nine months of this financial year, we have grown about nine percent in terms of volume and seven percent in terms of value."
"We are a large business. In India, we are among the top two brands and our market share is about 20 percent. One thing TGBL has not consciously done in the last 3-4 years is to aggressively invest behind our brands, which we have now decided to do. So, you will see some amount of margin pressure in the temporary phase. However, it’s been done for a larger good and for the larger cause," he added.
Sony further stated, "Therefore, our brands will continue to perform very well in India and overseas too in the next few quarters. We see India margins returning to 14-15 percent."Trending ArticleDaily UpdatesWhich is the highest format preference of Fun-Seeker?
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