日经中文网·2025-11-05 02:54Core Viewpoint - Starbucks is selling 60% of its Chinese business to local investment fund Boyu Capital amid increasing competition from domestic brands like Luckin Coffee, aiming to restructure its operations in China with a new joint venture valued at $4 billion [1][3]. Group 1: Starbucks' Market Position - Starbucks opened its first store in China in 1999, promoting coffee culture in a market where coffee was not yet popular [4][5]. - Starbucks was once the leading coffee chain in China but has now fallen to third place in terms of store count, with approximately 7,828 stores compared to Luckin Coffee's 26,117 and Koole's over 13,000 [6][8]. Group 2: Competitive Landscape - The rise of consumer price sensitivity has led to increased competition from local brands like Luckin Coffee, which offers lower prices (e.g., Starbucks' Americano starts at 27 yuan, while Luckin's can be as low as 14 yuan with coupons) [5][8]. - Consumers are increasingly viewing Starbucks as a luxury brand, leading to a shift towards more affordable local coffee chains [5][8]. Group 3: Future Plans and Strategies - Boyu Capital plans to leverage its experience to enhance Starbucks' brand image and expand into untapped markets, aiming to increase the number of stores in China from 8,000 to 20,000 [3]. - Starbucks has initiated strategies to attract customers, such as lowering prices on tea beverages and allowing students to use stores as study spaces, providing free power and water [10].