Starbucks, world’s leading coffee retail chain, has submitted a revised application to the Foreign Investment Promotion Board (FIPB), for entering India. Previous attempt by the company to enter India was stalled by FIPB. The company, in the new application has applied for permission to operate single-brand outlets in India.
Starbucks had originally planned to own 51 per cent of its Indian venture. Kishore Biyani-promoted Pantaloons and VP Sharma, head of its Indonesian franchise were partnering with Starbucks. FIPB had reservations about shares held by Sharma in the venture. In its revised application the company has proposed to operate under a reorganised entity.
