Starbucks announced Monday that it is selling up to a 60% stake in its China retail business to private equity firm Boyu Capital in a deal valuing the business at $4 billion.<\/p>\n\n\n\n
The agreement shows that Boyu Capital and Starbucks will operate their nearly 8,000 stores in China through a joint venture. Starbucks stated in a declaration that it will own the brand and intellectual property and grant a license to the new entity.<\/p>\n\n\n\n
Starbucks said its China retail business is expected to be valued at over $13 billion, a valuation that includes the proceeds from the transaction, the company’s remaining 40% stake, and the anticipated value of licensing fees over the next decade.<\/p>\n\n\n\n
Starbucks CEO Brian Niccol said in the statement, “This partnership model allows us to combine the strengths of the Starbucks brand, coffee expertise, the Third Place concept, and our unique Partner culture, with Boyu’s deep understanding of the China market and local operational experience.”<\/p>\n\n\n\n
Niccol also mentioned that the joint venture agreement is expected to be finalized in early 2026.<\/p>\n\n\n\n
Starbucks opened its first store in mainland China in 1999. At the time, the Chinese market was dominated by tea, and coffee culture was virtually non-existent. But as the size of China’s middle class expanded, Starbucks boomed along with it. Today, China has become Starbucks’ second-largest market, contributing approximately 8% of its revenue. As of the end of June, Starbucks had 7,828 stores in China, compared to 17,230 stores in the United States.<\/p>\n\n\n\n
Last month, Starbucks reported a 5.5% year-over-year increase in global quarterly revenue, reaching $9.6 billion, but net profit dropped 85% to $133 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
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