Starbucks spokeswoman Lisa Passe said the company hopes to make the announcement soon after moving ahead with talks and planning with Tata. "This
India is just one piece of Starbucks' plans for global expansion as U.S. market demand slows down. A major Latin American franchisor of Starbucks stores said Monday it plans to open around 300 stores in Mexico and Argentina over the next five years. Alsea, the franchisor who made the statement, also operates Domino's Pizza ( DPZ) and Burger King stores in Latin American markets. Starbucks has laid plans to expand rapidly in China, a booming market with growing consumer discretionary dollars, by tripling its store locations in the country. Other Asian nations as well such as smaller markets like Guatemala can also expect more Starbucks stores . The company said in July it intends to generate half of its revenue from markets outside the U.S. in the near future.
Starbucks shares were 1% higher at $41.33 at midday on Tuesday. -- Written by Miriam Marcus Reimer in New York.