Starbucks Corp. said Monday that it will offer U.S. customers a rare coffee sourced exclusively from India for the first time later this year. Starbucks Reserve Tata Nullore Estates will be roasted at the Starbucks Reserve Roastery and Tasting Room and sold at that Seattle location. The announcement is one of a series of agreements that extends the partnership between Starbucks and Tata Sons Limited, including a plan to expand Starbucks’ roasting capacity for its 80 stores across India, distribution of Tata’s Himalayan Mineral Water in Starbucks’ China and Asia Pacific locations, an extension of the Teavana brand into India this December, a philanthropic program benefitting youth education, and a deal to offer Starbucks coffee on Vistara flights. Vistara, which operates 457 flights across India each week, is a joint venture between Tata Sons and Singapore Airlines. Starbucks shares are down 1.2% in premarket trading, and down nearly 9% for the year so far. The S&P 500 is down 0.3% for the year to date.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News