Starbucks seeks ‘strategic partnership’ to find a perk in China amid brewing price war

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Starbucks seeks ‘strategic partnership’ to find a perk in China amid brewing price war - SCMP

Quick Summary:

Starbucks is working to find the best path to growth, which includes exploring strategic partnerships’, according to a statement.

With a nagging property slump, employment uncertainties and tepid economic growth, consumer spending has been sluggish in China, as consumers downgrade their purchases of everything from dining out to electronics and fashion.

Brian Niccol, named the chairman and chief executive officer of Starbucks on Aug.13, 2024.