Tata Starbucks' adex up 84.45% to Rs 34.05 crore in FY23

In FY23, Tata Starbucks' advertising and promotional expenses increased 84.45% to Rs 34.05 crore, according to financial data accessed through business intelligence platform Tofler.

Its advertising expenses were Rs 18.46 crore a year ago.

Tata Starbucks has reported a net loss of Rs 24.97 crore from its operations in India for the financial year ending March 31, 2023.

However, its revenue from operations was at Rs 1,086.89 crore for the said period, up 70% helped by the addition of more cafes and expansion of the network in more cities in India.

In India, Starbucks cafes are operated by Tata Starbucks.

It is a 50:50 Joint Venture between Tata Consumer Product Ltd (TCPL) and Emerald City CV, a wholly-owned entity of Starbucks Corporation, USA.

Tata Starbucks had reported a net loss of Rs 94.84 crore in FY22 and its revenue from operations was at Rs 636.11 crore.

Besides, it has also paid a royalty of Rs 76.83 crore in the financial year ended March 31, 2023.

Tata Starbucks has expanded its store base. It was operating 333 Starbucks stores as of March 31, 2023, with the addition of 71 new stores. During the year, Tata Starbucks entered 15 new cities marking its presence in 41 cities.

As of March 31, 2023, the total number of employees on the rolls of Tata Starbucks stood at 3,877, which comprised 2,357 male and 1,520 female employees.

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