Starbucks has officially denied that it’s planning a full sale of its China operations, following a Caixin Global report that triggered a bump in its share price .

In its statement, the company confirmed that while it initiated a strategic review in May—and has had preliminary talks with over a dozen potential buyers including private equity firms—no decision has been made on selling either a controlling stake, a minority interest, or exiting completely . This comes amid a broader slowdown in Starbucks’ Chinese business: market share has dropped from around 34% in 2019 to roughly 14% in 2024, under heavy pressure from lower-priced local chains like Luckin and Cotti . To regain momentum, Starbucks has implemented several short-term measures—including its first-ever price cuts on iced drinks in June and introducing new sugar-free offerings—along with longer-term strategies like appointing a China growth director and exploring cultural and entertainment partnerships .

Analysts note that this strategic reassessment echoes discussions in other Western consumer brands grappling with the challenge of adapting to a slower-turning Chinese economy

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