Starbucks Plans Chennai Global Capability Centre With 800 Jobs

Reuters··INUS·Read original
2▲1 ▼0Impact / 5
Summary · why it matters

Starbucks is planning to establish a global capability centre in Chennai, India, with approximately 800 jobs expected to be created during the project's initial phase, Reuters reported on Monday, citing a government source familiar with the plans. Further details about the investment, development timetable and specific functions of the proposed centre were not provided. The project would expand Starbucks' presence in India beyond its existing coffee shop operations; the US coffee chain currently operates approximately 500 cafés in India through a joint venture with Tata Consumer Products, and the proposed Chennai facility would add a corporate operations centre to that existing retail footprint. The reported plans follow a similar announcement by US pharmacy chain Walgreens, which signed an agreement with the Tamil Nadu state government several days earlier to establish a global capability centre in Chennai. Chennai is already home to technology and business operations centres operated by several multinational companies, including Citi, Barclays and American Express.

Impact on assets 4

Digital Finance & Tokenization▲
Consumer Discretionary▲
Starbucks Corporation
SBUX
▲ PositiveCapitalrelevance

Starbucks plans a new global capability centre in Chennai with ~800 jobs, expanding its corporate operations footprint in India.

Financials▲

Off-coverage companies 2

Tata Consumer Products Limitedi
Private± Mixedrelevance

Walgreens Boots Alliancei
Private± Mixedrelevance