Starbucks Completes Joint Venture Transaction with Boyu, Chinese Directly Operated Stores to Gradually Transition to Franchise Model

Odaily News Starbucks Corporation announced that the previously announced joint venture between Starbucks and Boyu Capital has been officially completed, marking a significant step in Starbucks' long-term strategy for achieving sustainable, self-disciplined growth in China. According to the agreement terms, the joint venture currently operates approximately 8,000 Starbucks directly operated coffee shops, which will gradually transition to a franchise model. The shared long-term goal of both parties is to ultimately expand the store count to 20,000. (The Paper)