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

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.