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Thursday, January 13, 2011

Starbucks inks pact to enter India, source beans, (NASDAQ: SBUX), (TACO)

Starbucks Corp (SBUX.O), the world's largest coffee chain, unveiled a tie-up on Thursday that could bring its iconic cafes to Asia's third-largest economy, where western-style coffee shops are increasingly popular. The Seattle-based chain signed a pact with India's Tata Coffee Ltd (TACO.BO), part of the Tata group conglomerate, to source coffee in India and explore opening retail stores in the country, the two companies said in a statement. Starbucks will likely open its first India store in July or August this year, K Krishnakumar, Chairman of Tata Coffee, told Reuters.

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