- Starbucks Denies : refutes reports of a full sale of its China operations.
- A spokesperson stated: “Not currently considering a full sale” of its China business.
- According to sources, Starbucks started a formal sale process in May, seeking interest from buyers.
- The Seattle-based company, advised by Goldman Sachs, hasn’t decided if it will sell a controlling or minority stake.
- Starbucks opened a $209M Coffee Innovation Park in Kunshan in 2023, supplying all its China stores.
- 20+ institutions responded to the initial call for potential buyers, including KKR, Fountainvest, and PAG.
- Market share in China dropped from 34% (2019) to 14% (2024) due to rising competition from brands like Luckin and Cotti.
- Earlier this month, Starbucks announced its first-ever price drop in China (~5 yuan discount on some iced drinks).
- Final decision on a potential stake sale is expected after assessing bids (Starbucks Denies).
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