Starbucks, the world’s US-based biggest coffee chain, despite having been delayed in obtaining approval for its application from regulatory agencies, is still hopeful of meeting the 2007-end entry schedule for India. The first of the Starbucks coffee stores is expected to come up either in Delhi or in Mumbai.
The company had earlier submitted its application for its foray into India envisaging a joint venture with Kishore Biyani owned Pantaloon and VP Sharma, President and Director, PT Mitra Adiperkasa, its Indonesian franchise. Starbucks has resubmitted its revised application last week for operating single-brand retail stores chain under a restructured entity, as the FIPB had earlier raised doubts over the shareholding of Sharma. The details of the revised capital structure has, however, not been revealed by the coffee retail giant.
The global coffee major has 12,440 stores worldwide. It is opening six stores every day.
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