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Starbucks to open India location
January 15, 2007
International Herald Tribune (India): Starbucks has plans to open its first location in India by the end of 2007. The Seattle-based coffee company will compete with local chains Barista Coffee and Cafe Coffee Day in a market that is estimated to create 65 million middle-income Indian households by 2010, up from 40 million now. "It's a status symbol to have a Starbucks cup in your hand in these countries like China, and I think that'll translate to India as well," said Rick Drake, director of research at ABN AMRO Asset Management in Chicago.
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