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.
ByteDance will retain ownership of TikTok's U.S. operations but will form a joint venture to manage data and algorithms. Amid scrutiny from lawmakers, the deal's structure is still evolving.
