Starbucks posts 27% jump in Dec quarter revenue

American coffee chain Starbucks posted a 27% growth in revenue for the December quarter, as it opened 28 new stores in the country, its local partner in India, Tata Global Beverages Ltd said on Tuesday.

“Tata Starbucks clocked a 27% growth in revenue for the Quarter, opening 28 new stores. It now has 174 stores spread across 11 cities in India,” Tata Global Beverages that sells packaged tea brands such as Tata Tea Spice Mix, Tata Tea Agni, and Tata Tea Premium said in statement.

TGB did not disclose the profit for the quarter.

In financial year 2017-18, the company added 25 stores in India, and another 30 in financial year 2018-19.

Starbucks that operates in the market through a 50:50 joint venture with Tata Global Beverages (TGB) opened its first store in India in October of 2012.