“星巴克们”集中抛售中国业务？真相是他们换了一种打法

Core Viewpoint - Recent trends indicate a significant shift in foreign investment strategies in China, particularly in the consumer goods sector, as companies like Starbucks and Burger King sell stakes to local investors, reflecting a broader trend of foreign brands adapting to the competitive landscape in China [5][12]. Group 1: Foreign Investment Changes - Starbucks announced the sale of 60% of its Chinese operations to local capital, while Burger King followed suit by selling a majority stake to a Chinese entity [4]. - The ongoing rumors about potential sales of other foreign brands, including Haagen-Dazs, Costa, and IKEA, highlight a growing concern regarding foreign brands' performance in the Chinese market [6][7]. - The trend of foreign brands divesting their Chinese operations is attributed to stagnant growth and declining profits amid fierce market competition [9][10]. Group 2: Market Performance and Strategy - Haagen-Dazs has experienced a double-digit decline in traffic in China, while Decathlon's growth has slowed significantly, prompting a shift towards higher-end products [10]. - IKEA's sales in China dropped from 12.07 billion yuan to 11.15 billion yuan, a nearly 10 billion yuan decrease year-on-year, indicating substantial pressure on its performance [10]. - Despite challenges, Starbucks reported a revenue increase of 5% in China for the 2025 fiscal year, with a strong single-store profitability, positioning it as one of the healthiest markets internationally [11]. Group 3: Local Adaptation and Future Outlook - The shift towards local ownership is seen as a necessary adaptation for foreign brands to thrive in the increasingly competitive Chinese market [12][14]. - The trend of localizing operations and management is becoming a common strategy among foreign brands, allowing them to reduce costs and better align with local consumer preferences [14]. - The partnership between CPE Yuanfeng and Burger King aims to expand the latter's store count from approximately 1,250 to over 4,000 by 2035, indicating a long-term commitment to growth in the Chinese market [15].