Understanding China, One Blog at a Time

An American in China

Starbucks Flies Solo in China

Posted by w_thames_the_d on June 3, 2011

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SHANGHAI – The US-based coffee retailing giant Starbucks Coffee Company announced on Thursday that it is to acquire full ownership of all its stores in China from joint venture partner, Maxim’s Caterers Ltd.
In a press release, Starbucks said the agreement would allow it to boost profitability in China through direct control of more than half of Starbucks stores in Chongqing municipality and five other provinces, including Hainan and Sichuan.
As part of the agreement, Maxim’s will have 100 percent control over Starbucks stores in Hong Kong and Macao. The exact consideration paid for this deal was not revealed.

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