Starbucks Completes Joint Venture with Boyu Capital in China

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Starbucks retains a 40% interest and continues to own and license the brand and intellectual property. The joint venture aims to enhance Starbucks' ability to expand its footprint, deepen local relevance, and elevate the customer experience in China. The joint venture currently oversees approximately 8,000 company-operated coffeehouses, with a shared goal to grow to as many as 20,000 locations over time.

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About Starbucks Corporation

Starbucks Corporation is a renowned global leader in the coffeehouse industry, offering a wide array of beverages including coffee, tea, and other specialty drinks, alongside complementary food items. The company operates retail locations worldwide, providing customers with a unique coffeehouse experience characterized by quality products and a welcoming atmosphere. Beyond its physical stores, Starbucks significantly impacts the coffee production industry, promoting sustainable sourcing and ethical supply chain practices. Its operations extend into grocery and convenience stores through products like ready-to-drink beverages and consumer-packaged coffee. Founded in 1971 and headquartered in Seattle, Washington, Starbucks Corporation is pivotal in shaping consumer beverage preferences and enhancing global coffee culture, influencing both retail and wholesale sectors.