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Starbucks inks buyout deal to own all its China outlets

Jul 28, 2017, 7:59 AM EDT
Starbucks runs 2,800 stores in China, of which 1,500 are already fully company-owned.
(Source: Dawn Huczek/flickr)

Starbucks, the world’s largest coffee chain currently seeing low footfalls in America’s malls and high streets, is set for the biggest ever buyout deal that will earn it full ownership of all its China outlets for $1.3bn.

Starbucks runs 2,800 stores in China, of which 1,500 are already fully company-owned, notes The Seattle Times.

The buyout decision in one of its fastest-growing markets outside the U.S. came as Starbucks posted a decline of 8.3 percent in its net income for three months up to July, writes the BBC.

TAGS: Starbucks
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