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Starbucks enters India in JV with Pantaloon Retail

October 24, 2006


Starbucks Corporation of Seattle has sealed a deal with Kishore Biyani promoted Planet Retail India Limited. Insiders tell that Kishore Biyani has beaten Reliance ADAG in a race to become Starbucks venture partner in India. Earlier, Reliance Industries Limited faced the embarrassment from retail King, Kishore Biyani when talks between the two failed.

However, with this deal, Pantaloon Retail India Ltd shareholders don’t get any benefits as Planet Retail Holdings is controlled by Biyani family. Another typical family run business sacrificing interests of shareholders.

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