Tata Starbucks accelerates outlet expansion but weaker demand hampers profitability

Starbucks’ India licensee opened a record 95 new stores in FY24 but saw ‘subdued’ sales growth as many consumers cut back amid the high cost of living

30 May 2024

2 min read

Tata Starbucks’ losses widened from Rs 23.9 ($287,000) to Rs 81 ($971,000) | Photo credit: Vaishnav Chogale

Starbucks’ India licensee opened a record 95 new stores in FY24 but saw ‘subdued’ sales growth as many consumers cut back amid the high cost of living

Tata Starbucks opened a record number of stores in India last year but cautioned that weaker demand for quick service restaurant (QSR) chains across the country had hindered profits.