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Tag: Cyrus Mistry

  • The Tata group and Starbucks Coffee Company strengthen partnership

    The Tata group and Starbucks Coffee Company strengthen partnership

    MUMBAI: In a meeting at Starbucks Reserve® Roastery and Tasting Room in Seattle, Washington, chairman and chief executive officer of Starbucks Coffee Company, Howard Schultz, and chairman, Tata Sons Limited, Cyrus Mistry, announced multiple new joint initiatives , which expand the existing Tata and Starbucks relationship and strengthen the companies’ commitment to developing the Tata-Starbucks brand and building a different kind of company in India.

    For the first time, Starbucks will offer a single-origin coffee from India in the U.S., giving customers from outside the country a unique opportunity to experience a rare, small-lot coffee from the Tata Nullore Estates located in the beautiful Coorg coffee growing area of India. Starbucks Reserve® Tata Nullore Estates will be the first coffee from India to be roasted at the Starbucks Reserve® Roastery and Tasting Room and will only be available at this Seattle location later this year.

    “These announcements build upon the incredible success and shared values between Starbucks and Tata in our partnership in India,” said Schultz. “We are humbled by the way in which customers in India have embraced Starbucks elevated coffeehouse experience, which now spans to more than 80 stores across six cities. As we continue on our journey with Tata, we are delighted to introduce the finest coffee from India to a new audience. Starbucks Reserve® Tata Nullore Estates, the first ever Starbucks Reserve® coffee sourced exclusively from India, highlights the deep coffee heritage and expertise of both companies to source, roast and distribute the finest-quality arabica coffees and elevates the story of India coffee for our customers.”

    Starbucks also announced plans to increase its coffee roasting capacity for supplying its stores in India and, over time, select markets around the globe. Since Tata Coffee Limited opened its doors to a roasting and packaging plant in Kushalnagar in Coorg, Karnataka, in 2013, this facility has steadily increased its roasting capabilities. Today, it roasts Starbucks® India Estates Blend and Espresso Roast coffees and will soon expand to include both Kenyan and Sumatran coffees for Starbucks stores throughout India. This builds upon Tata and Starbucks commitment to cultivate a future supply of high-quality, sustainable green coffee from existing and potential sources in India through world-class agronomy practices.

    “We are proud to work with Starbucks, a company which shares our commitment to both the coffee growing regions and the coffee farmers to ensure we meet the global demand for high-quality coffee over the long-term,” said Mistry. “Our journey with Starbucks since 2012 has been gratifying and we are pleased to build on the strong relationship between Starbucks and the Tata group as we continue to further advance Indian coffee around the globe. We are honored to be sourcing the finest Indian coffee and introducing Starbucks customers outside India to its quality for the first time.”

  • The Tata group and Starbucks Coffee Company strengthen partnership

    The Tata group and Starbucks Coffee Company strengthen partnership

    MUMBAI: In a meeting at Starbucks Reserve® Roastery and Tasting Room in Seattle, Washington, chairman and chief executive officer of Starbucks Coffee Company, Howard Schultz, and chairman, Tata Sons Limited, Cyrus Mistry, announced multiple new joint initiatives , which expand the existing Tata and Starbucks relationship and strengthen the companies’ commitment to developing the Tata-Starbucks brand and building a different kind of company in India.

    For the first time, Starbucks will offer a single-origin coffee from India in the U.S., giving customers from outside the country a unique opportunity to experience a rare, small-lot coffee from the Tata Nullore Estates located in the beautiful Coorg coffee growing area of India. Starbucks Reserve® Tata Nullore Estates will be the first coffee from India to be roasted at the Starbucks Reserve® Roastery and Tasting Room and will only be available at this Seattle location later this year.

    “These announcements build upon the incredible success and shared values between Starbucks and Tata in our partnership in India,” said Schultz. “We are humbled by the way in which customers in India have embraced Starbucks elevated coffeehouse experience, which now spans to more than 80 stores across six cities. As we continue on our journey with Tata, we are delighted to introduce the finest coffee from India to a new audience. Starbucks Reserve® Tata Nullore Estates, the first ever Starbucks Reserve® coffee sourced exclusively from India, highlights the deep coffee heritage and expertise of both companies to source, roast and distribute the finest-quality arabica coffees and elevates the story of India coffee for our customers.”

    Starbucks also announced plans to increase its coffee roasting capacity for supplying its stores in India and, over time, select markets around the globe. Since Tata Coffee Limited opened its doors to a roasting and packaging plant in Kushalnagar in Coorg, Karnataka, in 2013, this facility has steadily increased its roasting capabilities. Today, it roasts Starbucks® India Estates Blend and Espresso Roast coffees and will soon expand to include both Kenyan and Sumatran coffees for Starbucks stores throughout India. This builds upon Tata and Starbucks commitment to cultivate a future supply of high-quality, sustainable green coffee from existing and potential sources in India through world-class agronomy practices.

    “We are proud to work with Starbucks, a company which shares our commitment to both the coffee growing regions and the coffee farmers to ensure we meet the global demand for high-quality coffee over the long-term,” said Mistry. “Our journey with Starbucks since 2012 has been gratifying and we are pleased to build on the strong relationship between Starbucks and the Tata group as we continue to further advance Indian coffee around the globe. We are honored to be sourcing the finest Indian coffee and introducing Starbucks customers outside India to its quality for the first time.”

  • Tata Group’s Cyrus Mistry plans Rs 2,000 crore IPO for Tata Sky

    Tata Group’s Cyrus Mistry plans Rs 2,000 crore IPO for Tata Sky

    MUMBAI: In 2012 Tata Group chairman Cyrus Pallonji Mistry is believed to be offering Rs 2,000 crore for the Tata Sky’s amount of issue, according to a report.

    Mistry had had initiated the process to sell part of Tata Sky in his first initial public offering (IPO) move after becoming the group chairman and a recent report by Times of India says Tata Sky will also be the 30th publicly listed company from the Tata Group which currently has a combined market cap of nearly Rs 7.2 lakh crore.

    Early next week, the company’s investors, management, underwriters and counsel will hold the kickoff meeting to thrash out the red herring prospectus, Times of India reported.

    To take matters forward, Morgan Stanley, Citi and Kotak Mahindra Capital will manage the DTH provider’s offering in which Tata Sons owns 51per cent, media mogul Rupert Murdoch’s 21st Century Fox has 30 per cent, Singapore state investor Temasek 10 per cent, and Tata Opportunities Fund holds 9 per cent.

    Mistry has revived the plan to list Tata Sky on the domestic stock market, which will help the 47-year-old to part-monetize the asset by bringing in fresh funds to fuel the conglomerate’s growth plans and trim its debt. In fiscal 2015, its loss stood at Rs 267 crore.

    The report also stated that there are prospects of sale of new shares as well as of existing shares held by promoters including Tata Sons and Temasek, which has remained invested in Tata Sky since 2007. According to the report, Temasek wants to encash some of its holdings in the 12-year-old Tata Sky, which will have a gross profit of Rs 1,000 crore in fiscal 2016. Murdoch’s 21st Century Fox intends to retain its ownership, while Tata Opportunities Fund is undecided whether it wants to sell a stake in the IPO, the person added.

    Tata Sky intends to use the proceeds from the share sale to beef up its balance sheet. The company, which has emerged as the leader in the DTH field, will break even this financial year.

  • Tata Group’s Cyrus Mistry plans Rs 2,000 crore IPO for Tata Sky

    Tata Group’s Cyrus Mistry plans Rs 2,000 crore IPO for Tata Sky

    MUMBAI: In 2012 Tata Group chairman Cyrus Pallonji Mistry is believed to be offering Rs 2,000 crore for the Tata Sky’s amount of issue, according to a report.

    Mistry had had initiated the process to sell part of Tata Sky in his first initial public offering (IPO) move after becoming the group chairman and a recent report by Times of India says Tata Sky will also be the 30th publicly listed company from the Tata Group which currently has a combined market cap of nearly Rs 7.2 lakh crore.

    Early next week, the company’s investors, management, underwriters and counsel will hold the kickoff meeting to thrash out the red herring prospectus, Times of India reported.

    To take matters forward, Morgan Stanley, Citi and Kotak Mahindra Capital will manage the DTH provider’s offering in which Tata Sons owns 51per cent, media mogul Rupert Murdoch’s 21st Century Fox has 30 per cent, Singapore state investor Temasek 10 per cent, and Tata Opportunities Fund holds 9 per cent.

    Mistry has revived the plan to list Tata Sky on the domestic stock market, which will help the 47-year-old to part-monetize the asset by bringing in fresh funds to fuel the conglomerate’s growth plans and trim its debt. In fiscal 2015, its loss stood at Rs 267 crore.

    The report also stated that there are prospects of sale of new shares as well as of existing shares held by promoters including Tata Sons and Temasek, which has remained invested in Tata Sky since 2007. According to the report, Temasek wants to encash some of its holdings in the 12-year-old Tata Sky, which will have a gross profit of Rs 1,000 crore in fiscal 2016. Murdoch’s 21st Century Fox intends to retain its ownership, while Tata Opportunities Fund is undecided whether it wants to sell a stake in the IPO, the person added.

    Tata Sky intends to use the proceeds from the share sale to beef up its balance sheet. The company, which has emerged as the leader in the DTH field, will break even this financial year.

  • Tata Starbucks charts its steady growth plan

    Tata Starbucks charts its steady growth plan

    KOLKATA: Starbucks, which formed an equal joint venture (JV) with Tata Global Beverages in 2012 and since then has opened around 53 outlets in the country, is on a steady growth. 

     

    “Starbucks is on a steady growth and we are very happy with the way the brand has been built and the experience of Starbucks is spreading across as a very premium cafe in the Indian context,” said Tata Global Beverages (TGBL) MD Ajoy Misra.

     

    Also, the company, which is looking at the premium segment, agreed that at present it might not look at the mid-segment but hinted that going forward it may move that segment as well.

     

    Tata Global Beverages chairman Cyrus Mistry in response to a shareholder’s query during the annual general meeting in Kolkata said that the company is looking at the premium segment and at this point of time not actually looking at mid-segment. “But that does not stop us from looking at this in the future,” he said.

     

    “Tata Starbucks recorded strong growth and it continues to increase the number of stores. Today it is currently in Mumbai, Delhi, Gurgaon, Poona, Bangalore and Chennai. The store count is currently 53 and continuously growing,” he added.

     

    “We are a company that is in the branding business. We are a company that is talking about strengthening brands, creating brands, creating new products, strengthening the product formulation around the consumer needs,” said Misra while talking about the philosophy of the brand.

     

    Globally, the world’s largest coffee chain, Starbucks, runs more than 20,000 coffee stores across 64 countries, serving more than 70 million customers per week.

  • Tata Global Beverages looks at wellness segment

    Tata Global Beverages looks at wellness segment

    KOLKATA: Tata Global Beverages (formerly called Tata Tea) is mulling to explore options of entering into the wellness segment by launching tea for diabetes and cardiac patients. The company with this aims at improving its business.

     

    That apart the beverage company is planning to expand its water portfolio to 10 per cent of its turnover by launching ‘Tata Gluco Plus’ and ‘Tata Water Plus’ stage-by-stage across the country.

     

    “We are actually looking at functional teas as an area of future growth. I think this is a very interesting subject going into the future,” said Tata Global Beverages chairman Cyrus Mistry.

     

    A functional beverage is a non-alcoholic drink and consists of ingredients such as herbs, vitamins, minerals, amino acids or additional raw fruits.

     

    “A number of categories in tea and coffee are still unexplored and the geographic reach continues to give us opportunities,” he said.

     

    He said the philosophy of the company is to invest in new categories and geographies.

     

    On tea price, he said, “Tea prices are volatile, but we are making all emphasis on innovation and improvement in procurement process to minimise the impact of rising tea prices in the future.”

     

    According to Mistry, the water division currently accounts for just one per cent of the company’s turnover. During the last financial year consolidated total revenue of the company stood at Rs 7,819 crore, higher by five per cent as compared to the previous fiscal.

     

    TGBL will continue to invest in NourishCo Beverages, a joint venture with PepsiCo India Holdings, despite it not being profitable in the short-term. “But we see revenue growth from this business significantly,” he emphasised. 

     

    The company is also looking at capacity expansion for its premium water brand Himalayan. “We have to invest significantly in building the brands in India and globally,” he said.

     

    Tata Water Plus, a fortified water product was also bought by the Tatas after it signed a 50:50 JV with PepsiCo in the year 2010.

     

    Tata Global has already shifted its headquarters to Mumbai from Kolkata.