Report: Starbucks eyes India for expansion
Seattle Starbucks Corp. said it plants to enter the Indian market, although the retailer has not released any specifics regarding number of stores or whether they will be licensed or company-owned.
According to a report in The Motley Fool, Starbucks, which intends to open a net of 70 new company-owned stores internationally in fiscal 2009 and 310 new licensed stores internationally in fiscal 2010, could find a ripe market for its concept in India. With about 1 billion residents, India currently has no Dunkin Donuts stores and only a limited number from McDonald’s.
In March, Starbucks announced plans to open new stores in London this year. Around that same time, Starbucks released a public-growth strategy that included focus on disciplined global store expansion in unidentified “key markets.”