Zheng Quan Ri Bao·2025-11-04 06:35Core Insights - Starbucks has announced a strategic partnership with Boyu Capital to establish a joint venture for operating its retail business in China, marking a significant step in its commitment to expanding in this rapidly growing market [2] - Boyu Capital will hold up to 60% equity in the joint venture, while Starbucks retains 40% and continues to own and license its brand and intellectual property [2] - The total value of Starbucks' retail business in China is expected to exceed $13 billion, comprising the equity transferred to Boyu, the retained equity value, and ongoing licensing revenue over the next decade [2] Business Operations - The new joint venture will be headquartered in Shanghai and will manage the existing 8,000 Starbucks stores across China [3] - The partnership aims to gradually expand the number of Starbucks locations in China to 20,000 in the future [3]