Lates News

On April 2, local time, Starbucks announced that the joint venture with Bucyrus Capital, previously announced, had officially been completed, marking a significant progress in Starbucks' long-term strategic goal of achieving sustainable and disciplined growth in China. According to the terms of the agreement, the joint venture currently operates about 8,000 Starbucks company-operated coffee shops, which will gradually transition to a franchise model. The common long-term goal of both parties is to eventually expand the number of stores to 20,000. (The Paper)