Starbucks Wholly Owns China Stores

Starbucks has decided to purchase the remaining 50% of its China JV for US$1.3 billion. This means that Starbucks will claim 100% ownership of its 2,800+ stores in the country. The company’s China sales have been rapidly growing – quarterly sales in the country are increasing at rates of about 7%, while those in the US are growing at about 3%. “Unifying the Starbucks business under a full company-operated structure in China reinforces our commitment to the market and is a firm demonstration of our confidence in the current local leadership team,” states Starbucks President and CEO Kevin Johnson.

Shanghai Business Review is the leading English language website and print magazine for business leaders conducting business in China.