$SBUX - a page out of $YUM back in the day. https://t.co/G8OJrDKykV
Starbucks has reached out to private equity firms, technology companies and others as it mulls options for its China business, including a possible stake sale, Bloomberg News reported on Wednesday. https://t.co/hEfHoFr44m
You know i am a big believer in Brian Niccol. If he is going to monetize China, SBUX is WAY too low.
Starbucks Corp. is exploring strategic options for its China business, which includes the potential sale of a stake. The company has reached out to private equity firms, technology companies, and other potential investors to gauge interest in its operations in the region. The process, facilitated by a financial adviser, involves sending letters to potential investors to solicit their views on the growth and development of Starbucks' China business. CEO Brian Niccol has expressed a long-term commitment to China, exploring potential partnerships to enhance growth. The assets under consideration could be valued at several billion dollars. Starbucks, with over 7,750 stores in China, reported about $740 million in net revenue from the country for the quarter ending March. This move comes as the company faces macroeconomic and competitive pressures in China, where local competitors like Luckin Coffee and Cotti Coffee have gained significant market share.
