Bei Jing Shang Bao·2025-11-04 03:17Core Insights - Starbucks has announced a strategic partnership with alternative asset management firm Boyu Capital to establish a joint venture for its retail operations in China [1] - Boyu will hold up to 60% equity in the joint venture, while Starbucks retains 40% equity and continues to own and license the Starbucks brand and intellectual property [1] - The enterprise value of the joint venture is approximately $4 billion, and Starbucks expects the total value of its retail business in China to exceed $13 billion [1] Business Operations - The new joint venture will be headquartered in Shanghai and will manage the existing 8,000 Starbucks stores across China [2] - The partnership aims to gradually expand the number of Starbucks stores in China to 20,000 in the future [2] Company Background - Boyu Capital, founded in 2011, is an alternative asset management company focused on the Chinese market with a global investment strategy [2] - The company has offices in Hong Kong, Beijing, Shanghai, and Singapore, with an investment portfolio exceeding 200 enterprises [2]