After five years and numerous attempts to launch outlets in India, coffee house giant Starbucks will finally roll out its cafes here, in partnership with Tata Global Beverages (TGB), by August-September. John Culver, president, of the chain's China and Asia Pacific region, tells what the joint venture (JV) means for it and the way ahead.
Tata Group chairman Natarajan Chandrasekaran on Thursday said the group's recently launched super app Neu is on an open architecture and it will host non-group brands as well. The Tatas finally launched its super app Tata Neu on April 7, after piloting it for months, but the group chairman claimed there was no delay in the commercial launch. Stating that the app has received an overwhelming response in the past seven days of going live, Chandrasekaran said the app is on an open architecture and will host products and services from non-Tata group companies.
The US-based coffee chain, which had sewed up an equal joint venture with Tata Global Beverages, opened its first outlet in Mumbai in October 2012.
Tatas may look at selling part of its stake in couple of investments
The Tata group on Thursday launched its super app, Tata Neu, bringing all its brands in one platform as it seeks to play a major role in the Indian ecommerce space currently dominated by the likes of Amazon and Flipkart.
"The company has entered into a joint venture with Starbucks group whereby, the newly formed joint venture company Tata Starbucks Ltd shall engage in the operation of Starbucks Cafes."
The firm is on course to replace state-owned Gail India in the widely-followed index during the semi-annual review set for March.
The Tata Group has close to 110 companies and Chandrasekaran plans to bring this number down to around five or six.
Indian Ambassador to United States S Jaishankar listened to the concerns raised by Indian Americans during his first visit West Coast. He also visited leading corporations like Boeing, Microsoft, Amazon, and Starbucks during his trip. Ritu Jha reports.
Shivani Shinde reports. The youngest member of the Tata group, the much-awaited Tata Neu, has finally been launched for people across the country. The 'super app' offers a number of services ranging from financial services to tech, travel and even groceries. The app takes off with a customer base of 120 million, with 2,500 offline stores. According to the Tata group, the app will be a one-stop destination for all consumer needs. The super app also offers a bouquet of financial offers like Unified Payments Interface (UPI), bill payments, loans and insurance. Tata Neu will also provide other services like fashion, gadgets, groceries, travel and health.
The acquisition will give the Tatas a firm footing on international routes and generate economies of scale.
The Starbucks partnership will take couple of years to break-even.
Organised players have been the biggest beneficiaries after the lockdowns were lifted. Given real estate is not as expensive now, players want to take advantage of the trend.
Tata Cha cafes hope to create a feel of a roadside tea cart, casual college canteens, old Irani cafs and even the chai joints encountered on journeys through the Indian countryside.
Real estate experts say rentals have corrected by 5-10 per cent across formats, including office, retail and housing, with a pick-up expected over the next few quarters as the economy recovers.
After Rs 800 million makeover, Bombay House reopened on July 29, 2018. The earlier dull interior with low technology has given way to a lot more colour and vibrancy.
Developed markets have performed better than emerging market firms in the top 10 TSR-based rankings, says a BCG report.
Tata Cha has chosen Bengaluru for its first four pilots which include large format stores of 1,200 sq feet and kiosks which will be in shopping malls, IT parks and at prominent street corners.
India Inc is gearing up for a slugfest this year and from tech to paints, new battlegrounds are emerging, observes Indrajit Gupta, co-founder, Founding Fuel.
'The Tata group will need for its new leader to show the same foresight and willingness to go against conventional wisdom at times to keep the group's aspirations high and uphold the values of innovation, ethics, corporate responsibility, trust and leadership that are frequently associated with the Tata name.'
John Elliott, the author of Implosion: India's Tryst with Reality, on his Riding the Elephant blog, says the sacking of Cyrus Mistry as chairman of Tata and Sons was in line with Ratan Tata's personal style of dealing with executives
Indian coffee shops market over the next four-five years will grow between 6 and 18 per cent CAGR, all due to the growing coffee culture among the youth, increasing urbanisation, rising disposable income levels and changing eating and drinking preferences, says Atanu Biswas.
Microsoft Chairman and CEO Satya Nadella along with Alphabet Inc and its subsidiary Google CEO Sundararajan Pichai are also among those from trade and industry who have been awarded the Padma Bhushan for their distinguished services.
What's the mantra for reviving ghost malls? Most important, a right mix of products. They also need to transform into community spaces.
The lack of a strong diversity policy on the part of companies, a limited pool of women candidates as well as socio-cultural factors contribute to their low numbers.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
Attributing the delay in debt servicing to a liquidity crisis, the company said its total indebtedness was Rs 518 crore.
Auto Expo's Twitter handle (@AEMotorShow), with a follower base of 16,000, is abuzz with activity. The Facebook page of Auto Expo has about 158,000 followers.
He will be in Mumbai for a day to deliver a keynote address at Future Unleashed.
Through the book 'Make in India' authors Ranjini Manian and Joanne Grady Husky bring you the wisdom of twelve CEOS who walked the trail before them.
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In an hour-long chat on rediff.com on Friday, A K Prabhakar, senior VP and Head -- Equity Research (Retail), Anand Rathi Financial Services Ltd, discussed the best stocks to put the investors' money in.
'If prices of everyday consumption don't come down, employment doesn't pick up, 2020 will not be a happy year for anyone but the super rich,' notes Sherna Gandhy.
A look at the life and times of maverick businessman Chinnakannan Sivasankaran
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