India’s Tata Consumer Products plans to adjust its Starbucks store expansion strategy in the short term, as fewer customers visit its cafes in the country, CEO Sunil D’Souza said on Monday.
“We will make short-term adjustments… There will be some challenges in the near term,” D’Souza told Reuters. Despite this, the Tata Starbucks joint venture remains committed to achieving its 2028 growth target.
In a separate statement, D’Souza mentioned that Tata Consumer’s revenue is expected to grow by double digits during the second half of the current financial year. However, profits might face some strain due to rising raw material costs, including tea.
