Buy custom Starbucks in China
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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 846 |
Essay's paper body
And he's working to change some buying habits there.
"Starbucks, apart from coffee, sells many other items, like beans, mugs, music. But in Hong Kong and China, that has yet to take off," said Wu, who said sales of CDs and whole coffee beans are sluggish in China. "In Hong Kong, we will embark on other sales distributions channels, but in China, it is not part of our initial strategy ...
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for the first five years."
In a deal expected to close within three weeks, Starbucks will become the majority owner of its operations for an undisclosed sum. In exchange for allowing Starbucks to acquire the majority position in the southern China venture, Maxim's Caterers received a 10-year extension of its Hong Kong operating term until 2037 and gained a 30 percent stake in a joint venture with Starbucks in Chengdu, the capital of the Sichuan Province in southwestern China...
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