Starbucks claims that he is currently not taking into consideration a complete sale of his operations in China, et Bredequity

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The American chain of coffee Starbucks said that he is currently not evaluating a complete sale of his operations in China, after the Chinese financial magazine Caixin reported that he was, without revealing where he got the information.Starbucks has held preliminary interviews with more than a dozen potential buyers, he also reported Caixin, citing sources that did not specify what was on sale.

Starbucks kicked off a formal sales process of his operations in China in May, inviting buyers interested in sending answers to a list of questions by the end of last week, said three sources with knowledge of the situation.

The company based in Seattle, recommended by Goldman Sachs, asked the buyers concerned their business culture, their management style, the sustainability measures, the way they deal with employees, as well as the potential business structure and the company plan for Starbucks China, said that people, who refused to be named as information were not public. Starbucks, however, has not yet decided whether to sell a control control or a minority participation in his business in China, or if he maintains some parts of his operations in China such as his supply chain, they said two of the sources.

Starbucks refused to further comment on the details of the sales process. Goldman Sachs did not immediately respond to a Reuters commentary request.

Starbucks has opened its 1.5 billion yuan ($ 209 million) of the coffee in the park in the city of Kunhan, near Shanghai, in 2023

More than 20 institutions responded to Starbucks, including a number of private equity companies, said one of the sources.

Starbucks will be expected to buyers of list elements for the next steps, two of them said.

“The aim was to let everyone tell their story freely and choose whatever the best perspective that it is and proceed,” said one of them.

Reuters

reported in February

Kkr & Co, Fountainvest partners and PAs are among the acquisition companies interested in acquiring a participation in the Starbucks business china.

The sale comes when Starbucks has lost a market share for low -cost Chinese rivals in recent years since consumers tighten the ropes of the bag and the increasingly deceptive options from rapid growth Luckin and cooked have made it more difficult to justify the prices of about 30 Yuan ($ 4.20) for coffee cup.

The Starbucks market share in China decreased from 34% in 2019 to 14% in 2024, according to Euromonitor International data, a market research provider.

Price pressures have increased with the increase of large e-commerce companies in China offer subsidies for consumers to stimulate their food delivery and “instant retail” sales companies, referring to the deliveries made within an hour.

These subsidies and coupons have pushed the price of an even lower cup of coffee, which means that consumers often pay less than 5 yuan per cup of coffee delivered to their door.

At the beginning of this month, Starbucks announced his first drop in prices in China, lowering the price of some frozen drinks not on average 5 yuan.