Starbucks Sells Stake in China, Partners with Local Firm

Starbucks, facing intense competition from local brands like Luckin Coffee and a slowdown in consumer spending, sells a majority stake in its China operations to Boyu Capital. This move allows Starbucks to adapt to the evolving market and innovate its menu and digital presence, while retaining a forty percent share in its largest international market.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.