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The world\'s largest chain of coffee shops, the $6.4-billion Starbucks Corp, has tied-up with RPG group in India to be their business partners and master franchisee.
The RPG group owns Spencer hypermarkets and Music World. The final deal is yet to be chalked out with Starbucks planning to take up 51 per cent stake while RPG is to retain 49 per cent in a joint venture. While RPG will appoint the chairman to the joint venture, Starbucks will choose the CEO. Experts in the industry feel that the company is likely to start its business activities by mid-2007, and it is estimated that the number of stores will go up to 200 in the coming two years, and 500 in the next five years.