On September 11, it was reported that Starbucks has shortlisted Boyu Capital, Carlyle Group, EQT, and Sequoia China as the final candidates for the sale of its Chinese business. The acquisition is now in the final round of negotiations, with the results expected to be finalized by the end of October.
Earlier reports indicated that Starbucks is in talks to sell 70% of its shares in Starbucks China, with this portion being divided among a group of buyers, each holding no more than 30%. This means that Starbucks will retain 30% of Starbucks China, remaining the largest shareholder.
Public information reveals that in the third quarter of fiscal year 2025, Starbucks’ total revenue was $9.456 billion, a year-on-year increase of 3.8%; net income attributable to shareholders was $558 million, down 47.1% year-on-year.
In the Chinese market, Starbucks’ revenue for this quarter increased by 8% year-on-year to $790 million, with same-store sales up 2%, and both same-store transaction volume and average ticket size showing month-on-month growth. Starbucks stated that the growth was mainly driven by the rapid growth of same-store sales from new stores opened over the past two years and its timely capture and fulfillment of the rapidly growing online demand.
As of the end of the third quarter, Starbucks had a total of 7,828 stores nationwide, opening 70 new stores and entering 17 new county-level markets. At the same time, in response to the intense competition in the Chinese market, Starbucks lowered the prices of its “non-coffee products” this year, boosting consumption during lunch and evening hours.
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