Costa Coffee, one of the leading coffee brands in the world, recently announced that India in its 10 preferred markets. It is a British coffee chain that plans to establish up to 50 cafes every year in India. Furthermore, the British coffee chain to add 40 to 50 cafes for the next four or five years in a bid to expand its market. Costa Coffee seems to be very confident about the increasing demand for specialty coffee among the youth in the coming years. If this development takes place in India, it would be a game-changing step for cafes in India. However, the CEO of Costa Coffee has publicly said that India is among its 10 priority markets. You should unravel everything that the Costa Coffee CEO said. Drag down the page and read more details.
Costa Coffee To Start 50 Cafes Every Year In India
The global CEO of Costa Coffee owned by Coca-Cola Co., Philippe Schaillee said the company is considering India among in its 10 priority markets. He went on to announce that the company will open 40 to 50 cafes every year for the next four or five months. However, the British coffee chain Costa Coffee has been operating in India since 2005 in association with food services company Devyani International Ltd. (DIL).
When Costa Coffee entered India partnering with Devyani International Ltd (DIL) the cafe chains were new to Indians and other coffee chains such as Cafe Coffee Day, a homegrown chain leading the Indian market. After a few years, Starbucks entered the Indian market in 2012 by joining hands with Tata Group. Now time has changed, and the youth spends more on coffee than their entire day’s meal which stimulates both foreign and domestic coffee chains to open in major cities. Likewise, Costa Coffee, a British coffee chain is encouraged to invest more in India.
In a bid to capitalize on the growth, Philippe Schaillee said while addressing a media conference in Gurugram, “The Indian market stands out for its potential. The Indian market has become the top 20 coffee-drinking markets in the world. That’s not something I would have expected 10 years ago.” He kept on saying, “India is one of the fastest growing markets; it’s today growing at about 11%. We’re expecting that pace of growth to continue,” At this time, Costa Coffee operates around 150 cafes in India. Schaillee who became the CEO of the chain is looking ahead to fast-track its growth in India. Stay tuned.