Tata Coffee Ltd. (BY:532301) us expected to finalize its alliance with Starbucks Corp. (NASDAQ:SBUX) by the end of this month and the International chain is expected to open its 1st outlet in India by the end of Y 2012, a top Tata Coffee executive said Thursday.
"Final formalities are being completed and we are on the verge of signing the agreement," Hameed Huq, managing director of Tata Coffee, told reporters at an International Coffee Festival.
India is 1 of the big untapped markets for Seattle-based Starbucks, and its entry will come at a time of growing popularity of coffee shops in the Country.
Indians are traditional tea drinkers but, lately Indians taken to ordering espressos and cappuccino at quick-service cafes as a growing middle class increasingly adapts to Western tastes.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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