Reliance Brands, owned by billionaire Mukesh Ambani, is getting ready to compete with Tata Starbucks by opening the first Pret A Manger location in India, in mumbai Bandra-Kurla Complex, Maker Maxity has built its first store.
Tata will eventually face competition for Starbucks. According to Avnish Roy executive director at Nuvama Institutional Equities, this may put Tata Starbuck’s overvaluation at danger.
In the first year of the agreement, Reliance Brands limited, a division of Reliance Retail, intends to open a total of 10 Pret A Manger location in India.
Customers will have access to a large selection of mouthwatering and freshly cooked sandwiches, baguettes, salads, soups as well as choice of organic coffee, tea, shakes and smoothie options, at the new Pret location
Tata Starbucks, the industry leader, has 275 locations spread across 30 cities. 50 new outlets were opened by the 50:50 JV between Tata Consumers Products and the American coffee brand Starbucks in FY22, which was a record-breaking year for the business.
Reliance Brand’s MD Darshan Mehta. said the business is excited to debut in first Pret A manger location in India. Mehta announced last year that brand would focus on India airports.
Over the course of the next five year, about 100 “Pret a Manger”outlets would open in India, per the deal.
By 2025, the Indian coffee market is expected to surpass $4.2 billion, or Rs 34.48 thousands crore, According to Naveen Gurnani, CEO of Tim Hortons India. Where about 20% of consumption will take place away from home.
