India should be one of our top five markets over time, says Starbucks CEO

Starbucks expects its Indian business to eventually rank among its top five markets, CEO Howard Schultz said on Friday as the coffee chain entered one of its last untapped markets.

"India represents one of the most significant opportunities that we have in all of Starbucks. India should be one of the largest markets in the world for Starbucks. I would say one of the top five over time," he said in an exclusive interaction with ET.

Schultz, the son of a US soldier who grew up in public housing in New York, added that a lot of thought had gone into setting Indian prices at levels that are competitive, a significant departure in business practice for a brand that has globally positioned coffee drinking as an elite experience. "We don't want price to be a barrier. People are surprised, but this will give us a competitive advantage in the market."




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