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Investing.com -- Starbucks Corp . (NASDAQ:SBUX) is exploring a potential full sale of its operations in China, according to Caixin Global, signaling a major shift in strategy for the American coffee company.
The Seattle-based coffee chain has begun preliminary discussions with over a dozen possible buyers, sources familiar with the situation revealed to Caixin. Among the potential acquirers are private equity firms including Hillhouse Capital Group, FountainVest Partners Co. Ltd. and Trustar Capital.
This strategic move comes as Starbucks faces challenges in the Chinese market, including declining market share and growing competition from lower-priced local competitors.
The company’s consideration of selling its China business represents what could be a significant change in its approach to one of its major international markets.
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