Starbucks is pinning its hopes for its future on China
The world's largest coffee chain just sank $1.3 billion in China, to gain full control of all its 2,800 outlets there.
Starbucks had 50 percent ownership of 1,300 outlets in east China, via a joint venture with two Taiwanese firms. With the buyout — its biggest ever acquisition, it said — it now owns the 1,300 fully, together with the other 1,500 it already owned.
The joint venture with Taiwanese convenience and department store giant President Chain Store Corp., and Taiwan-based food giant Uni-President Enterprises Corp, covered stores in Shanghai, Jiangsu and Zhejiang. Read more...
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Starbucks is pinning its hopes for its future on China
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Friday, July 28, 2017
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