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Brewing Fortunes: How Starbucks Became India's Coffee Bank | Mint Explains
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In a country known for its vibrant streets and aro... moreIn a country known for its vibrant streets and aromatic spices, Starbucks has become more than just a coffee shop—it's a financial powerhouse.
With revenue of INR 2,240 crores ($300 million) in 2022, a significant portion came from selling gift cards and stored-value goodies. Customers essentially deposit money with Starbucks, which is then owed back in the form of coffee, snacks, or merchandise.
With a staggering INR 1,200 crore ($160 million) in deposits, Starbucks utilizes the funds to expand its presence, engage customers with tempting treats and merchandise, and embrace digital innovation. It's a caffeinated financial success story!
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