Xin Lang Cai Jing·2025-10-17 02:01Core Viewpoint - Starbucks is in the final stages of selling a majority stake in its China business, with Carlyle and Boyu Capital as the main bidders, valuing the business at approximately $4 billion [3] Group 1: Acquisition Details - Carlyle and Boyu Capital are seen as preferred partners for acquiring the majority stake in Starbucks China, with five private equity firms having submitted binding offers [3] - The total value created by this transaction for Starbucks is expected to exceed $10 billion, including partner investments and future royalties [3] - Starbucks is likely to retain up to 49% of its stake in the China business, indicating its commitment to maintaining operational control and cultural integrity in the market [4][3] Group 2: Market Performance - Starbucks China reported a revenue increase of 8% year-on-year to $790 million (approximately 5.625 billion yuan) for the latest fiscal quarter, marking three consecutive quarters of growth [5] - In contrast, Luckin Coffee's revenue grew by 47.1% year-on-year to 12.36 billion yuan, significantly outpacing Starbucks [5] - The company has become more flexible in its operations in China, as evidenced by its recent partnership with Xiaohongshu and price reductions on key products [5]