Billionaire Mukesh Ambani’s Reliance Brands is all set to take on Tata Starbucks with the launch of the first store of British sandwich and coffee chain Pret A Manger in India. The first store has been opened in Maker Maxity in Bandra-Kurla Complex, Mumbai.
In the long run Tata there will be competition for Starbucks. This could pose a risk to the overvaluation of Tata Starbucks, said Avnish Roy, executive director at Nuvama Institutional Equities. Reliance Brands Limited, a subsidiary of Reliance Retail, plans a total of 10 Pret A Manger stores in India in the first year of the partnership.
The new Pret shop will offer customers a wide range of delicious and freshly-made sandwiches, baguettes, salads, soups, as well as a variety of organic coffee, tea, shakes and smoothie options.
Meanwhile, Tata Starbucks, the most dominant player in the space, has 275 stores across 30 cities. The 50:50 JV between Tata Consumer Products and American coffee chain Starbucks launched 50 new stores in FY22, the highest ever in a year for the company.