New Delhi: Tata Consumer Products Ltd, the operator of Starbucks in India, will accelerate the expansion of the coffee chain following a period of “tempered” store additions. The company opened six Starbucks outlets in India in the June quarter, bringing the total tally to 485. The store expansion was slightly “tempered,” the management said. “You would probably see a similar number or maybe slightly more this quarter. I would probably wait for one more quarter before pressing the accelerator on outlets,” Sunil D’Souza, managing director and CEO of Tata Consumer Products, said in an interview with Mint on Thursday. Store openings for Starbucks moderated in the past two quarters, with the company adding six stores per quarter. This was lower than the double-digit expansion in previous quarters. Total store additions in FY25 were 58, down from a record 95 opened in FY24.Also Read | Tata Starbucks profitable at store level, but rapid expansion deepens losses Starbucks’ revenue grew 6% year-on-year during the June quarter, while same-store sales growth was positive, except in May, when regional geopolitical tensions flared up and impacted store operating hours in some areas. “We started seeing traffic increase as well as same-store sales growth starting to pick up into the positive territory after four to five quarters of pressure, except for the month of May when we had store closures and reduced timings with Operation Sindoor, especially in north and northwestern India. Other than that, we can see that trajectory starting to shift and growth starting to come back. I’m cautiously optimistic,” he said. The coffee chain started operating in India in 2012 through a 50:50 joint venture between Starbucks Coffee Company and Tata Consumer Products. In early 2024, Tata Starbucks Pvt Ltd stated its ambition of operating 1,000 stores in India by 2028, effectively opening one store every three days.Store openings in the coming quarters could more than double from levels in the June quarter, D’Souza said. The chain had added 16 stores in the December quarter, with expansion dialed up in east India. In the September quarter, 19 stores were added and in the June quarter of FY25, it opened 17 outlets. High food inflation has tempered consumer demand across the board, leading many companies to report sluggish sales. D’Souza acknowledged that this “stress on discretionary spends” had impacted the quick service restaurant (QSR) space, including Starbucks.Also Read | Dolly Chaiwala Starbucks India’s new ambassador? Here’s the truth Shares of Tata Consumer Products rose 1.06% on the BSE at 1:12 PM on Thursday, a day after the company’s earnings announcement. However, recent initiatives like new menu items are showing results, he said. 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Starbucks India plans to speed up the expansion of its stores following a period of moderate growth in the last two quarters.
