Tata Coffee Ltd said on Monday it would supply premium coffee beans to Starbucks, the American coffee retail chain.
Tata supplies coffee beans to over 100-odd Starbucks outlets in India but is now also looking to become a supplier of coffee for the Seattle-based company globally
Agreement includes opening cafes, bean sourcing and roasting.
The Indian partner will be one among the the seven highly specialised global coffee roasteries of the coffee giant.
Tata Coffee Ltd said the strike at company's instant coffee division factory at Toopran has been called off.
US-based coffee giant Starbucks on Thursday said it is moving forward with the memorandum of understanding (MoU) signed with Tata Coffee and hopes to make an announcement soon even as the government has notified 100 per cent FDI in single brand retail.
Tata Coffee Ltd has decided to form a joint venture with tea firm Beeyu Overseas Ltd for marketing and sale of the company's instant coffee products in the international market.
The company is already supplying coffee beans to cafes, instant coffee to Hotels, restaurants and catering segment, vending and various other establishments. Going forward, it plans to look at vending solutions on its own.
Tata Coffee Ltd, a subsidiary of Tata Global Beverages Ltd, is India's third largest exporter of instant coffee.
Tata Coffee Ltd, owned 51 per cent by Tata Tea, plans to launch 100 coffee outlets in the country over the next five years to enhance presence.
Starbucks, which runs the world's largest coffee shop chain and enjoys cult status among coffee lovers, has been trying to enter India for many years, but has been unsuccessful in its efforts so far.
It is currently scouting for suitable firms in Europe and planning to close the deal some time this year, a top company executive said.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
India's largest private conglomerate is looking to integrate some of its smaller businesses with their respective flagship companies, with a view to leveraging the value of the entities and increase cost efficiency.
Some of the country's leading FMCG companies they include Nestle, Coca-Cola and Tata Coffee - are investing over Rs 1,800 crore (Rs 18 billion) in the next few months to expand capacity or for inorganic growth.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
For the purpose the ministry will rope in the private sector companies to give a boost to Indian tea abroad.
On Friday, shares of Tata Motors rose by 2.68 per cent and Tata Steel went up by 1.85 per cent on the Bombay Stock Exchange.
The company is focussed on becoming a global branded beverages player.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Sterling Group-controlled coffee chain Barista Coffee Company Ltd on Wednesday announced plans to open 60-70 outlets across the country in the next 10-12 months, as part of its expansion plans.
Tata Coffee said on Wednesday that it would continue with its entire 34.1 per cent stake in Barista Coffee Company
Sterling Group is believed to have paid Rs 30 crore (Rs 300 million) for acquiring the entire 65.45 per cent stake of Turner Morrison in Barista Coffee outlet chain.
Fast-growing espresso chain Barista, in which Tata Coffee Ltd holds a stake of about 34 per cent, said on Monday it planned to double the number of its coffee bars to 320 in the fiscal year to March 2004.
Tata Group overall commands market capitalisation of over $125 billion
Intimate getaways offered in the form of homestays by hotels are proving to be the flavour of this extraordinary and difficult time. Not far from cities, they offer a pleasant respite from homebound lives, says Pavan Lall.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
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