Starbucks, the Indian joint venture of the coffee brand with Tata, has decided to go green in the view of upcoming World Environment Day on 5th June 2019, as it will employ products which can be completely composted and recycled. With this, Starbucks will become the first in the industry to adopt sustainable solutions, the Financial Express reported the company’s CEO, Navin Gurnaney, as saying on Thursday.
“Sustainability is embedded in the fabric of Tata Starbucks’ mission. We are proud to be the first in the industry to be adopting such packaging solutions to further innovate the Starbucks experience for our customers.” Gurnaney said.
With compostable wooden cutlery and stirrers, paper cups and straws, cap lids produced from corn starch, glassware for all food and beverages instead of disposable plastics and recyclable splash sticks, the company plans to convert 100% of its packaging material into environment-friendly material, reported the Financial Express.
He also believes that by the initiative, environment could be helped as these materials decompose within two- three years. Starbucks stores all across India will see the welcome change. Acknowledging that the move might cost more to the company, Gurnaney told Financial Express that their commitment to the environment is essential. He added that the customers won’t bear the cost.
He also said that India is one of the top five markets for the company apart from being the fastest growing markets among the emerging economies. Gurnaney also said that they are very bullish in India and are on their way to reach the breakeven by 2020, PTI reported.
Starbucks’ revenue grew by 28 per cent in the previous fiscal year 2018 to Rs 342 crore from FY2017’s 14 per cent owing to the higher number of stores and growth in sales per store. The same-store sales growth was estimated to be 18 -20 per cent, according to a Kotak report.
The company, which operates 138 stores as of now will complete its target of 144 stores by the end of the financial year 2019, Gurnaney said.