Starbucks is reviewing offers from potential investors interested in acquiring a majority stake in its China business, as reported by Bloomberg.

The Seattle-based coffee chain is shortlisting bidders for the next phase of negotiations, with those selected expected to gain access to financial and operational data to assess the value of Starbucks’ Chinese assets.

Initially, Starbucks aimed to sell a minority stake to a partner capable of driving growth in its China operations.

However, the company is now open to divesting a larger share based on valuation and other considerations.

In June 2025, industry players and private equity firms submitted non-binding proposals, most seeking a controlling stake to secure decision-making authority.

The evaluation of Starbucks’ China business is still in its early stages, with no final decisions made regarding the deal’s structure or potential partners.

Starbucks affirmed its commitment to the market, stating that: “... we remain committed to China and want to retain a meaningful stake in the business” and highlighting its belief in “significant long-term potential in China.”

The review of Starbucks’ China operations, first reported by Bloomberg News in May 2025, includes the possibility of a stake sale, with the business potentially valued at several billion dollars.

The company has appointed its first chief growth officer for China to focus on partnerships with entertainment brands and pop culture figures to attract younger customers.

Meanwhile, domestic competitor Luckin Coffee overtook Starbucks in 2023 to become China’s largest coffee retailer.

In June 2025, Starbucks promoted Mike Grams, North America chief coffeehouse officer, to chief operating officer as part of a strategy to improve team cohesion and leadership accountability, as set out by CEO Brian Niccol.