Starbucks officially announces joint venture with Boyu Capital.

On Tuesday (7), the conclusion of the process was officially announced. joint venture between Starbucks and the Chinese Boyu Capital for the ownership of operations for 8,000 coffee shops in ChinaThe partnership between the companies, initially announced in November, has a long-term objective. expand the coffee shop network to up to 20,000 unitsThe agreement stipulates that… Boyu Capital holds a 60% stake in the operations of Starbucks in ChinaThe coffee brand, however, holds a 40% stake and continues to own and license the brand and its intellectual property in Chinese territory. Chinaa Starbucks It deals with significant local competitors such as local brands. Luckin Coffee and the Cotti Coffee, which operate respectively 31,000 stores and 18,000 stores around the world.

This text was translated by machine from Brazilian Portuguese.