Taste Holdings gives up on Starbucks amid focus on luxury goods
The group plans to sell its licences for the Domino’s Pizza chain and Starbucks coffee shops and will concentrate on its luxury goods division
01 November 2019 - 08:55
UPDATED 01 November 2019 - 15:28
Taste Holdings, which holds the licences in SA for Starbucks and Domino’s Pizza, said on Friday it planned to exit its food business after becoming the latest company to realise it had bitten off more than it could chew in trying to make a profit from US franchises in SA.
Taste will join Grand Parade Investments (GPI) in giving up on US franchises, with that group announcing in February it was disposing of Dunkin' Donuts and Baskin-Robbins to channel capital into Burger King.
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