Starbucks is to Partner With Pantaloon and Indonesia's Mitra For India Entry. World's biggest coffee-shop chain is forming a JV with Kishore Biyani's Pantaloon Group and V.P. Sharma, head of Starbucks' Indonesian franchise, PT Mitra Adiperkasa, reports Bloomberg. So the rumours about Starbucks partnering with RPG Group and C Sivasankaran can be put to rest now.
Starbucks will have to compete with local chains Barista Coffee and Cafe Coffee Day. The venture will have to adhere with the FDI norms for Indian retail sector. The government has allowed 51 per cent FDI in single brand retail, and that is the maximum limit Starbucks can have in the venture currently.