KEY HIGHLIGHTS
• Starbucks was brought to India Tata Global Beverages Ltd. In 2012, these two companies announced a joint venture of 50% each and TGBL now owns and operates Starbucks stores in India
• Starbucks had actually tried to enter India earlier in 2007 but withdrew the business in some time
• Currently, Starbucks has a foothold in eight cities and has over 157 outlets in India
New Delhi: Tata Trusts chairman Ratan Tata is one of the most respected industrialists not just in India but internationally. The notable industrialist is the recipient of two of the highest civilian awards – Padma Vibhushan (2008) and Padma Bhushan (2000). Tata is known for his contribution in transforming the Tata group under his chairmanship and for his philanthropic work.
It may be noted that to the delight of his fans, Tata joined Instagram last month and within a couple of hours, garnered over 85,000 followers. The first post from the 81-year-old industrialist who has not been very active on social media gained nearly 50,000 likes within no time. He joined the social media platform with a picture that had the caption, "I don't know about breaking the internet, but I am so excited to join all of you on Instagram!"
Tata is known for his generosity and remarkable, insightful talks. In fact, Tata's grace and wisdom once moved former Starbucks CEO Howard Schultz to tears.
For those who are not aware, in January 2011, Starbucks Corporation and Tata Coffee announced plans to begin opening Starbucks locations in India. In January 2012, Starbucks finally announced a 50:50 joint venture with Tata Global Beverages, called Tata Starbucks Ltd., which currently operates outlets branded "Starbucks, A Tata Alliance" in India.
In a book titled 'Reimagining India: Unlocking The Potential of Asia's Next Superpower', Schultz wrote an essay in which he mentioned how Ratan Tata once moved him to tears. "At the celebratory dinner the night of the Mumbai (store's) opening, Ratan Tata offered a toast that really moved me," he wrote.
In the essay, he recalled Starbucks' India launch and how Tata's remarks at the celebrations after the launch to a gathering of his company officials in the US, he even began to cry and was overpowered by emotion.