Silk City Coffee to open first Starbucks Coffee Shop in India

By SUSAN HARRISABERThe Indian Coffee Exchange (ICSEE) is looking to open its first Starbucks coffee shop in the country.

The company, which is the only coffee company in India, plans to open a coffee shop at the premises of the Silk City Estate in Chennai, Tamil Nadu, which has been dormant for more than two decades.

ICECO chief executive officer Gautam Vidyasagar said the company is targeting a retail outlet of 500,000 sq ft with a capacity of 25,000 to 30,000 people.

He said it is in talks with a number of private entities.

“We are hopeful of launching our first store in Chennai in a year-end,” Vidyarsagar told Reuters news agency.

Starbucks plans to make its India debut later this month.

The company is planning to set up a new store in Hyderabad, with a planned launch date of early 2018.

A Starbucks Coffee shop is seen in this undated photo provided by Starbucks India.

Indian Coffee Exchange Chief Executive Officer Gautami Vidyar says the company has plans to establish a coffee store in a new location in Chennai.

India is a key market for Starbucks.

The coffee giant’s stock has climbed nearly 10 percent this year.

(Reporting by Sridhar Ramaswamy; Editing by Prateek Kumar)

By SUSAN HARRISABERThe Indian Coffee Exchange (ICSEE) is looking to open its first Starbucks coffee shop in the country.The company,…