Starbucks Whips Up Big Bids for Its Chinese Biz

Group 1 - Investment firms, including Carlyle Group, EQT, HongShan Capital Group, and Boyu Capital, are preparing final bids for Starbucks' business in China, with a valuation of up to $5 billion [1][2] - Starbucks plans to retain a significant stake in its Chinese operations, which is its second-largest market after the US [2] - Starbucks' market share in China has decreased from 30% in 2019 to 14% last year, as local competitors like Luckin Coffee have gained ground with lower prices and popular local drinks [3] Group 2 - Luckin Coffee is the largest coffee chain in China, with approximately 24,000 cafes, surpassing Starbucks' 17,000 locations in the US [5] - Both Luckin and another Chinese chain, Cotti Coffee, are expanding into North America, where Starbucks has experienced six consecutive quarters of declining sales [5] - Starbucks' CEO Brian Niccol is focusing on improving US sales by creating a more inviting coffee shop atmosphere, contrasting with the grab-and-go model of Chinese competitors [3]