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Starbucks completes joint venture deal with BoYu, and China directly operated stores will gradually transition to a franchising model
ME News Report, April 3rd (UTC+8), Starbucks announced that the previously announced joint venture between Starbucks and Boyu Capital has officially been completed, marking a significant milestone in Starbucks’ long-term strategy for sustainable and autonomous growth in China. According to the terms of the agreement, the joint venture currently operates approximately 8,000 Starbucks company-operated stores, which will gradually transition to a franchise model. The mutual long-term goal of both parties is to eventually expand the number of stores to 20k. (Source: ODAILY)