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Starbucks Corporation (SBUX) - free report >>
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Starbucks Corporation (SBUX) - free report >>
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Starbucks (SBUX) to Offer Premium Indian Coffee in U.S
Starbucks Corporation (SBUX - Free Report) , for the first time, will offer a small-lot coffee from India to customers in the U.S. under its joint venture partnership with the Indian company, Tata Global Beverages.
This finest premium coffee from India is grown in the Tata Nullore Estates in Coorg, Karnataka. Starbucks Reserve Tata Nullore Estates coffee will be the first Indian coffee to be roasted at the Starbucks Reserve Roastery and Tasting Room in Seattle. The single-origin coffee will only be available at Seattle stores later this year.
Starbucks’ chairman and chief executive officer, Howard Schultz met the chairman of Tata Sons Limited, Cyrus Mistry at the Starbucks Reserve roastery in Seattle last week to discuss the new joint venture initiatives. The companies now operate more than 80 stores across six cities in India. It opened its first store in the country back in 2012.
Starbucks also announced plans to expand its coffee roasting capacity in India. Tata Coffee Limited operates a roasting and packaging plant in Kushalnagar in Coorg, which was opened in 2013.
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Among other initiatives, the companies will bring its Teavana specialty tea brand to India this December. The companies are also collaborating on the development of a signature Indian tea blend that will be available across all Starbucks stores in India. Starbucks also plans to expand the availability of Himalayan Mineral Water, bottled by Tata Global Beverages, beyond just the Indian Starbucks stores to Singapore later this year.
Starbucks has a Zacks Rank #2 (Buy).
Stocks to Consider
Investors interested in the restaurant sector may consider stocks like Carrols Restaurant Group, Inc. , Famous Dave's of America Inc. (DAVE - Free Report) and Dave & Buster's Entertainment, Inc. (PLAY - Free Report) . All the stocks sport a Zacks Rank #1 (Strong Buy).
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