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Starbucks Divests Majority of China Operations to Boyu Capital
On November 3, Starbucks sold up to 60% of the company’s retail operations in China to investment firm Boyu Capital, according to a financial release from the global coffee chain which values their Chinese business to exceed $13 billion.
“Under the agreement, Boyu and Starbucks will operate a joint venture with Boyu holding a up to 60% interest in Starbucks retail operations in China,” read the release...
Starbucks to Remove Menu Items; Changing Plans May Involve Stake Sale in China
By March 4, Starbucks will remove a selection of “less popular” menu items that include several Frappuccino® blended beverages, the Royal English Breakfast Latte, and the White Hot Chocolate, according to a press release. The removal of menu items will result in a 30% reduction in offerings by the end of the year.
“As part of our plan to get back to Starbucks, we’re simplifying our menu to focus on what sets Starbucks apart–a welcoming coffeehouse where people gather..."
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