In a significant shift, Starbucks has sold a 60% stake in its Chinese operations to Boyu Capital for $4 billion, aiming to regain market share from competitors like Luckin Coffee as it seeks to expand its footprint across the country.
Starbucks has announced a $4 billion joint venture with Boyu Capital to operate its China locations. This strategic move aims to capitalize on the vast market potential despite recent challenges from competitors like Luckin Coffee.
