Starbucks

Starbucks Delays India Entry, Withdraws Application (Update2) By Saikat Chatterjee - July 20, 2007 09:46 EDT Email Share Print July 20 (Bloomberg) -- Starbucks Corp., the worlds biggest coffee-shop chain, has postponed its be after to bring out India, the worlds second-most populous solid ground. Starbucks has withdrawn its application to live single- brand sell stores in India, T. May Kulthol, a spokeswoman of the Seattle-based company, tell in an e-mailed release. It didnt give a reason for the withdrawal. The organization asked the coffee chain to file a revised proposal explain the investment pattern of the company that plans to open stores in India, Ajay Dua, monument at the department of industrial policy and promotion, said June 25. The government said the proposed local unit didnt comply with foreign trail investment rules, which all in allow as much as 51 percent foreign ownership in single-brand retail chains. ``Starbucks is reviewing all our options and evaluating how we will proceed related to our entry into one of the fleet growing economies in the world,\ Kulthol said in the release. India may app finish up foreign ownership in single-brand retail companies in the nation to 100 percent, the Financial Express reported on July 9, citing a strategy paper prepared by the government.

Starbucks planned to enter India in partnership with Kishore Biyani, founder of the countrys biggest publicly traded retailer, and V.P. Sharma, brainiac of the U.S. companys Indonesian franchise. In January, Indias investment board questioned the shareholding of Sharma in the proposed proceed with Biyani. Biyani Biyani declined to comment on Starbucks plan to withdraw its application. Sharma didnt plop up calls made to his office after hours. Starbucks said in August last year it was looking for a venture partner or a licensee to enter India by the end of 2007. The government limits overseas investment in the nations retail industry to single-brand merchants,... If you want to get a full essay, separate it on our website: Ordercustompaper.com

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