https://www.scmp.com/rss/37250/feed Starbucks is a global coffee company founded in 1971 in Seattle, Washington, as a roaster and retailer of whole bean and ground coffee, tea and spices. Today it is the largest coffeehouse company in the world. Starbucks Corporation's common stock is listed on NASDAQ, under the trading symbol SBUX. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Zhu Wenqian Zhu Wenqian With Chinese coffee brands eyeing overseas expansion, analysts said those seeking to succeed as global players must move beyond low-price strategies and a narrow focus on operational efficiency. “Overseas consumers have long associated Chinese brands mainly with cost performance,” said Fu Yifu, a special research fellow at Su Merchants Bank in Nanjing, in the eastern Jiangsu province. “To succeed globally, the core is to build a presence rooted in China’s operational efficiency while blending... https://www.scmp.com/business/china-business/article/3348412/chinese-coffee-brands-need-more-low-prices-compete-global-players-analysts?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348412/chinese-coffee-brands-need-more-low-prices-compete-global-players-analysts?utm_source=rss_feed Mon, 30 Mar 2026 23:30:09 +0000 Kolette Lim Kolette Lim In Singapore’s famous Takashimaya shopping centre, those looking for a quick caffeine fix are spoiled for choice. There is, of course, the ubiquitous Starbucks, as well as an outlet of China’s rapidly expanding Luckin Coffee franchise. But it’s a third option, Kenangan Coffee – an upstart brand from Indonesia that opened its first branch in Singapore in 2023 – that most appeals to 27-year-old shopper Sarah Shah. “I really like Kenangan’s range of drinks, especially how they balance classic... https://www.scmp.com/week-asia/lifestyle-culture/article/3345469/how-southeast-asias-coffee-chains-are-brewing-cross-border-success?utm_source=rss_feed https://www.scmp.com/week-asia/lifestyle-culture/article/3345469/how-southeast-asias-coffee-chains-are-brewing-cross-border-success?utm_source=rss_feed Thu, 05 Mar 2026 00:00:20 +0000 Zhu Wenqian Zhu Wenqian Luckin Coffee, mainland China’s largest coffee chain by store count, marked its milestone 30,000th outlet on Sunday in Shenzhen, with plans to boost global supply chain integration by sourcing premium beans from top producing regions worldwide. Headquartered in Xiamen, southeast China’s Fujian province, Luckin’s store network spans more than 300 cities nationwide, and its international footprint is expanding fast, with operations in overseas markets like Singapore, Malaysia and the US. It... https://www.scmp.com/business/china-business/article/3342941/luckins-30000th-store-milestone-adds-buzz-chinas-brewing-coffee-battle?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3342941/luckins-30000th-store-milestone-adds-buzz-chinas-brewing-coffee-battle?utm_source=rss_feed Mon, 09 Feb 2026 11:04:28 +0000 Cao Li Cao Li “Three Starbucks peach lattes for 84.90 yuan [US$12]”, a live streaming host tells viewers on Douyin, China’s popular short-video platform. “Three, two, one – the link is up. Don’t miss this deal, babes.” As Starbucks’ planned sale of a majority stake in its China business to Boyu Capital, announced three months ago, awaits regulatory clearance, the US coffee chain has stepped up its push into China’s heated live streaming shopping race, using discounts to bring down the cost per cup. The... https://www.scmp.com/business/article/3342682/waning-fortunes-how-western-brands-are-adapting-chinas-changing-consumer-landscape?utm_source=rss_feed https://www.scmp.com/business/article/3342682/waning-fortunes-how-western-brands-are-adapting-chinas-changing-consumer-landscape?utm_source=rss_feed Sat, 07 Feb 2026 02:00:10 +0000 dpa dpa Are your loved ones in luck this year? See our predictions for all the zodiac signs in the Year of the Horse. From key rings and clothing to rainbow-coloured sweets, unicorns seem to pop up everywhere in daily life. The mythical creature has been part of the human imagination for thousands of years, and its appeal shows no sign of fading. But why does the unicorn continue to enchant people across generations? “The desire for something that embodies hope, purity or magic is simply there. And the... https://www.scmp.com/lifestyle/arts/article/3342199/magic-unicorns-why-mythical-horned-horse-still-has-us-under-its-spell?utm_source=rss_feed https://www.scmp.com/lifestyle/arts/article/3342199/magic-unicorns-why-mythical-horned-horse-still-has-us-under-its-spell?utm_source=rss_feed Tue, 03 Feb 2026 23:16:38 +0000 Jun Yu Chan Jun Yu Chan As US-China tensions increasingly reshape global business, an old dynamic is re-emerging with the return of the middleman. Multinational firms that once prized direct control are again turning to local partners to navigate political rifts and commercial barriers. The pattern echoes an older era: the same reliance on middlemen that once moved tea and porcelain through old Canton now underpins how TikTok, McDonald’s and Starbucks navigate a divided global economy. Under the Canton system, overseas... https://www.scmp.com/opinion/china-opinion/article/3339722/tea-tiktok-middlemans-return-reshaping-china-trade?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3339722/tea-tiktok-middlemans-return-reshaping-china-trade?utm_source=rss_feed Fri, 16 Jan 2026 01:30:08 +0000 Michael Han Michael Han For years, Beijing attempted to trade flats for microchips, a bold effort to rewire the economy. But 2025 showed that a hi-tech superstructure cannot be built on the crumbling foundation of a middle-class balance sheet. Now, in the opening 2026 issue of Qiushi, the Communist Party’s most influential journal, a new signal has emerged, indicating that the leadership is prepared to halt the decline. A key commentary in the journal presents a notable analytical shift. It reaffirms real estate as a... https://www.scmp.com/opinion/china-opinion/article/3339640/china-set-double-down-property-market-stability?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3339640/china-set-double-down-property-market-stability?utm_source=rss_feed Wed, 14 Jan 2026 08:30:15 +0000 Bloomberg Bloomberg Diageo is considering options for its Chinese assets, including potential divestments, people familiar with the matter said, as the maker of Guinness and Johnnie Walker seeks to streamline its portfolio. Diageo is working with Goldman Sachs and UBS Group to review its operations, which include a more than 63 per cent stake in Shanghai-listed Sichuan Swellfun, the people said, asking not to be identified because the information was not public. The advisers have been sounding out initial interest... https://www.scmp.com/business/china-business/article/3339751/johnnie-walker-maker-diageo-weighs-options-china-assets-including-sale-sources-say?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3339751/johnnie-walker-maker-diageo-weighs-options-china-assets-including-sale-sources-say?utm_source=rss_feed Tue, 13 Jan 2026 09:48:27 +0000 Tribune News Service Tribune News Service Snoopy, probably the world’s most famous beagle, is having another moment. Created by US cartoonist Charles M. Schulz, the character from the Peanuts comic strip has lately been adorning all manner of merchandise, from pimple patches to luxury handbags. The spike in Snoopy products has been especially pronounced with the 75th anniversary of Peanuts, aka Snoopy’s 75th birthday, in 2025. But the grip Snoopy has on pop culture and the retail industry runs deeper than anniversary buzz. According to... https://www.scmp.com/lifestyle/entertainment/article/3338275/75-snoopy-has-conquered-gen-z-market-and-collaborates-global-luxury-brands?utm_source=rss_feed https://www.scmp.com/lifestyle/entertainment/article/3338275/75-snoopy-has-conquered-gen-z-market-and-collaborates-global-luxury-brands?utm_source=rss_feed Sat, 03 Jan 2026 23:15:09 +0000 Jean Iau Jean Iau Singapore has long been a proven test bed for international food and beverage chains as a wealthy, brand-savvy market where new entrants can generate instant buzz – and just as quickly disappear for those who fail to cook up a storm. The first part of that pattern was on display this month, with long queues forming outside the first Asia outlet of US fast-food chain Chick-fil-A more than a week after it opened in the city state. The crowds reflect the initial pull of a well-known American brand,... https://www.scmp.com/week-asia/lifestyle-culture/article/3337125/singapores-unforgiving-food-scene-can-go-hot-and-cold-brands-what-keeps-them-coming?utm_source=rss_feed https://www.scmp.com/week-asia/lifestyle-culture/article/3337125/singapores-unforgiving-food-scene-can-go-hot-and-cold-brands-what-keeps-them-coming?utm_source=rss_feed Sun, 21 Dec 2025 05:30:08 +0000 Luna Sun Luna Sun Only a few years ago, the notion that Beyond Meat – the former poster child of the plant-based meat industry – would shut down its operations in China seemed unthinkable. At the height of the brand’s popularity, its label could be found adorning heavily promoted products at restaurants and grocery stores across major cities. Many observers speculated that the alternative meat company and others like it had found the next great success story in the country’s rapidly evolving consumer market. But... https://www.scmp.com/economy/china-economy/article/3335365/why-chinas-consumers-found-hype-around-plant-based-meat-hard-swallow?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3335365/why-chinas-consumers-found-hype-around-plant-based-meat-hard-swallow?utm_source=rss_feed Sat, 06 Dec 2025 11:00:11 +0000 Sumnima Kandangwa Sumnima Kandangwa Netflix’s hit science fiction/horror series Stranger Things is finally back on our screens with a highly anticipated final season. Led by Millie Bobby Brown, Finn Wolfhard, Sadie Sink, David Harbour and others, the show takes place in the 1980s in Hawkins, Indiana, where a young boy named Will (Noah Schnapp) mysteriously disappears. The search for him leads his friends and family to go on a series of supernatural adventures, from finding a girl with telekinetic powers (Brown) to discovering a... https://www.scmp.com/magazines/style/people/celebrities/article/3334777/who-plays-stranger-things-karen-wheeler-meet-prolific-actress-cara-buono?utm_source=rss_feed https://www.scmp.com/magazines/style/people/celebrities/article/3334777/who-plays-stranger-things-karen-wheeler-meet-prolific-actress-cara-buono?utm_source=rss_feed Tue, 02 Dec 2025 10:00:11 +0000 Mandy Zuo Mandy Zuo During past flare-ups in diplomatic tensions between China and Japan, Chinese consumers spontaneously boycotted Japanese goods. But the latest row, sparked by controversial remarks on Taiwan by Japanese Prime Minister Sanae Takaichi, has met with a markedly different response, with almost no one in China calling for a boycott of Japanese products. Part of the reason for the turnaround is a seismic shift in China’s consumer market, with the Japanese home appliances, digital gadgets and cars once... https://www.scmp.com/economy/china-economy/article/3334529/why-do-chinese-consumers-feel-japanese-products-are-no-longer-worth-boycotting?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3334529/why-do-chinese-consumers-feel-japanese-products-are-no-longer-worth-boycotting?utm_source=rss_feed Sun, 30 Nov 2025 08:00:16 +0000 Yating Yang Yating Yang A decades-old staple in the slums of the Philippines, known as pagpag or “second-hand fried chicken”, has unexpectedly trended on mainland social media. Videos of Chinese influencers and bloggers filming themselves trying the food have gone viral. Pagpag, which literally means “to shake off dust”, has been eaten in poverty-stricken parts of the Philippines for decades. It is made from discarded leftovers which are cleaned, re-seasoned and deep-fried before being resold as “reprocessed... https://www.scmp.com/news/people-culture/trending-china/article/3334059/what-second-hand-fried-chicken-how-snack-becomes-popular-philippine-slums?utm_source=rss_feed https://www.scmp.com/news/people-culture/trending-china/article/3334059/what-second-hand-fried-chicken-how-snack-becomes-popular-philippine-slums?utm_source=rss_feed Sun, 30 Nov 2025 01:00:09 +0000 Bloomberg Bloomberg There is plenty to surprise first-time visitors to mainland China, from shockingly efficient mass transit to deeply integrated digital-first communication and payment ecosystems. But on a recent trip to Shanghai, I experienced an even greater surprise: a world-class coffee scene. My jet lag never stood a chance in the face of the caffeine tsunami I stepped into. As of 2024, the city had 9,115 coffee shops – including more Starbucks than any other city – as reported by Dao Insights, a publication... https://www.scmp.com/lifestyle/food-drink/article/3331557/shanghais-coffee-scene-brewing-storm-serving-classics-and-unhinged-creations?utm_source=rss_feed https://www.scmp.com/lifestyle/food-drink/article/3331557/shanghais-coffee-scene-brewing-storm-serving-classics-and-unhinged-creations?utm_source=rss_feed Fri, 07 Nov 2025 09:15:07 +0000 Zhang Shidong Zhang Shidong Starbucks agreed to sell a 60 per cent stake in its Chinese operations to a private-equity firm, ending months of speculation about whether the US coffee chain would divest itself of its mainland operations amid dimmer business prospects and the ascent of local rivals. The Seattle-based company said on Monday that it signed an agreement with Boyu Capital to set up a joint venture for its mainland business. Starbucks would hold a 40 per cent interest in the unit and remain the owner and licenser... https://www.scmp.com/business/china-business/article/3331434/starbucks-seals-deal-sell-60-china-business-private-equity-firm-boyu-capital?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3331434/starbucks-seals-deal-sell-60-china-business-private-equity-firm-boyu-capital?utm_source=rss_feed Tue, 04 Nov 2025 05:18:56 +0000 The Korea Times The Korea Times Suzy and her two friends from Taiwan wandered through Gwangjang Market in central Seoul on a crisp autumn afternoon. The three professional dancers were in Korea for dance lessons and stopped by the market to try its famous yukhoe, or marinated raw beef. After sharing a bowl of raw beef topped with egg yolk and pear slices at a food stall on the eastern end of the market, the trio explored some hip new additions. At Off Beauty, a warehouse-style beauty outlet, one of them picked up a hand cream... https://www.scmp.com/lifestyle/travel-leisure/article/3330190/where-shop-and-eat-gwangjang-market-seouls-old-textile-hub-turned-hip-mecca?utm_source=rss_feed https://www.scmp.com/lifestyle/travel-leisure/article/3330190/where-shop-and-eat-gwangjang-market-seouls-old-textile-hub-turned-hip-mecca?utm_source=rss_feed Fri, 24 Oct 2025 23:15:08 +0000 The Korea Times The Korea Times Starbucks South Korea has begun enforcing a nationwide ban on the consumption of outside food at all of its stores, aiming to curb disturbances caused by customers bringing in and eating food from elsewhere. The company, operated by Shinsegae Group, began posting notices on Monday at its 2,050 stores across South Korea saying that all outside food and beverages are prohibited from being consumed inside. Baby food is exempt from the rule. The move marks the first time the major cafe and dessert... https://www.scmp.com/news/asia/east-asia/article/3329095/starbucks-south-korea-bans-outside-food-make-stores-more-pleasant?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3329095/starbucks-south-korea-bans-outside-food-make-stores-more-pleasant?utm_source=rss_feed Wed, 15 Oct 2025 07:49:27 +0000 Sumnima Kandangwa Sumnima Kandangwa Every year since 2019, Caitlin Covington has heralded the beginning of cosy season with annual Pinterest-perfect photoshoots and videos in front of idyllic backdrops, where she is dressed in autumnal knitwear paired with skinny jeans and a pair of ankle boots. Often, she’s also sporting meticulously styled barrel curls and holding the ultimate autumn drink: a steaming cup of Starbucks’ pumpkin spice latte. For the past six years, Covington – a 35-year-old mother of two – has been the unofficial... https://www.scmp.com/magazines/style/lifestyle/leisure/article/3328794/what-christian-girl-autumn-meet-caitlin-covington-queen-season?utm_source=rss_feed https://www.scmp.com/magazines/style/lifestyle/leisure/article/3328794/what-christian-girl-autumn-meet-caitlin-covington-queen-season?utm_source=rss_feed Mon, 13 Oct 2025 22:00:24 +0000 Fran Lu Fran Lu A cafe in southwestern China’s Yunnan province has invented a unique coffee that incorporates a local speciality, penny bun mushrooms. Every year between June and September, Yunnan enters its annual wild mushroom season and becomes one of the top destinations for Chinese foodies. Of the wild mushrooms, the most tasty and expensive are termite mushrooms, penny bun mushrooms and matsutake mushrooms. In August, a cafe in Yunnan released a new product that blends Yunnan’s two specialities, coffee... https://www.scmp.com/news/people-culture/article/3324892/chinas-yunnan-cafe-launches-unique-latte-made-prized-mushrooms-us3-cup?utm_source=rss_feed https://www.scmp.com/news/people-culture/article/3324892/chinas-yunnan-cafe-launches-unique-latte-made-prized-mushrooms-us3-cup?utm_source=rss_feed Mon, 15 Sep 2025 06:00:10 +0000 Hadi Azmi Hadi Azmi Malaysia’s most famous shopping centre edged closer to a damaging boycott after threatening to throw out a second group of pro-Palestinian protesters carrying flags, prompting calls for a mass gathering inside the plaza after Friday prayers. The management of Suria KLCC shopping arcade – at the bottom of the Petronas Twin Towers in Kuala Lumpur – made headlines after a scuffle broke out on Sunday between security and pro-Palestinian supporters who entered the venue at the end of a rally. The... https://www.scmp.com/week-asia/politics/article/3325283/malaysias-top-mall-rolls-dice-flag-ban-over-gaza-protests-do-you-want-boycott?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3325283/malaysias-top-mall-rolls-dice-flag-ban-over-gaza-protests-do-you-want-boycott?utm_source=rss_feed Fri, 12 Sep 2025 04:21:48 +0000 Reuters Reuters Most of the bidders seeking to buy a portion of Starbucks’ China operations have submitted offers valuing the business at as much as US$5 billion, said two people with knowledge of the discussions. That would make a potential deal one of the most valuable China unit divestments by a global consumer company in recent years. The offers, which have not been reported previously, would let Starbucks push ahead with the sale in a market where it faces sluggish growth and stiff competition from local... https://www.scmp.com/business/china-business/article/3324432/starbucks-china-valued-about-us5-billion-bidders-sources-say?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3324432/starbucks-china-valued-about-us5-billion-bidders-sources-say?utm_source=rss_feed Fri, 05 Sep 2025 04:33:11 +0000 Mandy Zuo Mandy Zuo As widespread economic gloom in China’s megacities sees high-end restaurants close their doors one after another, Starbucks is accelerating its expansion into the country’s far-flung counties, where a growing number of residents are embracing a petit-bourgeois lifestyle. While county shopping centres might not stock Dyson vacuum cleaners and hairdryers, they have already become part of daily life in households in urban counties thanks to China’s ubiquitous e-commerce networks. Driving Teslas and... https://www.scmp.com/economy/china-economy/article/3321826/amid-big-city-gloom-can-chinas-far-flung-counties-become-key-driver-consumption?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3321826/amid-big-city-gloom-can-chinas-far-flung-counties-become-key-driver-consumption?utm_source=rss_feed Thu, 14 Aug 2025 22:00:08 +0000 Yuke Xie Yuke Xie Starbucks is making progress with the sale of its China business and has received “significant interest” from more than 20 potential buyers, chairman and CEO Brian Niccol said, as the world’s largest coffee chain regains momentum on the mainland. “We’ve been working to identify a strategic partner with a like-minded vision and values to help us capture further growth opportunities in China,” Niccol said during an earnings call on Tuesday. “We remain committed to our China business and want to... https://www.scmp.com/business/companies/article/3320112/starbucks-china-attracts-over-20-suitors-amid-8-quarterly-revenue-jump?utm_source=rss_feed https://www.scmp.com/business/companies/article/3320112/starbucks-china-attracts-over-20-suitors-amid-8-quarterly-revenue-jump?utm_source=rss_feed Wed, 30 Jul 2025 07:40:08 +0000 Bloomberg Bloomberg Starbucks has received proposals from prospective investors in its China business, most of whom are eyeing a controlling stake in the operation, according to people familiar with the matter. The Seattle-based company was in the process of sifting through proposals and shortlisting a group of potential investors for a next round of bidding, the people said, asking not to be identified because the matter is private. The company could share financial and operating details with those bidders to help... https://www.scmp.com/business/china-business/article/3317525/starbucks-draws-interest-controlling-stake-china-unit?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3317525/starbucks-draws-interest-controlling-stake-china-unit?utm_source=rss_feed Wed, 09 Jul 2025 07:47:46 +0000 SCMP’s Asia desk SCMP’s Asia desk A Starbucks branch perched at the edge of one of the world’s most heavily militarised borders has brewed up a remarkable success, drawing more than 120,000 customers in just seven months thanks in part to its singular offering: sweeping views into North Korea. This outpost of the American coffee giant is not in any ordinary location. It sits atop the observatory at Aegibong Peace Ecological Park, a former military base transformed into an eco-sanctuary in Gimpo, South Korea. Here, visitors can... https://www.scmp.com/week-asia/lifestyle-culture/article/3317342/starbucks-branch-offering-unique-views-north-korea-draws-120000-visitors?utm_source=rss_feed https://www.scmp.com/week-asia/lifestyle-culture/article/3317342/starbucks-branch-offering-unique-views-north-korea-draws-120000-visitors?utm_source=rss_feed Tue, 08 Jul 2025 06:10:35 +0000 He Huifeng He Huifeng For years, Feng Hui, an operations manager living in Guangzhou, made a tradition of taking her daughter Claire to celebrate her birthday at a Haagen-Dazs store near her home. But this month, the 14-year-old had other ideas: she told her mother she wanted to spend her birthday at a popular local tea bar with her friends. “Chinese teenagers now prefer domestic brands – they look great, and new products are coming out every month that tempt them to take selfies and post on social media,” Feng... https://www.scmp.com/economy/china-economy/article/3316118/foreign-ice-cream-no-longer-cool-china-heres-why-matters?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3316118/foreign-ice-cream-no-longer-cool-china-heres-why-matters?utm_source=rss_feed Sun, 29 Jun 2025 09:00:10 +0000 Yuke Xie Yuke Xie Starbucks has denied reports that it is in talks with private equity firms to sell the entirety of its China operations, as it faces slowing sales and intensifying competition from domestic rivals. “We have a world-class team in China, and a strong brand,” the Seattle-based coffee chain said in a statement on Tuesday. “We see significant long-term potential in the market and are evaluating the best ways to capture the future growth opportunities.” The statement came after local media outlet... https://www.scmp.com/business/companies/article/3315611/starbucks-denies-it-considering-full-sale-its-china-operations?utm_source=rss_feed https://www.scmp.com/business/companies/article/3315611/starbucks-denies-it-considering-full-sale-its-china-operations?utm_source=rss_feed Tue, 24 Jun 2025 06:35:48 +0000 Chandran Nair Chandran Nair In early May, as Roman Catholic cardinals convened for their conclave, US President Donald Trump posted an AI-generated image of himself as the pope. Shortly afterwards, he declared that he would like to become a pontiff. Reactions from around the globe were swift, though not everyone was shocked. After all, this was American crassness at its finest – a spectacle the world has grown accustomed to. Trump is neither the first nor the only US figure to inure the world to such behaviour; there is a... https://www.scmp.com/week-asia/opinion/article/3312520/why-us-exceptionalism-and-export-crassness-finally-losing-its-shallow-appeal?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3312520/why-us-exceptionalism-and-export-crassness-finally-losing-its-shallow-appeal?utm_source=rss_feed Sat, 31 May 2025 04:00:16 +0000 Alice Li Alice Li President Xi Jinping has issued a rare reply to a foreign commerce chamber, hailing bilateral cooperation amid a push to lure foreign investors onshore and expand China’s circle of friends during a 90-day trade-war truce with the United States. In his letter to the Danish Chamber of Commerce in China – the president’s first to a foreign business community in four years – Xi expressed his appreciation for the chamber’s contributions to bilateral relations and their confidence in China’s... https://www.scmp.com/economy/global-economy/article/3310481/president-xi-sends-message-danish-businesses-ahead-china-visit-foreign-minister?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3310481/president-xi-sends-message-danish-businesses-ahead-china-visit-foreign-minister?utm_source=rss_feed Thu, 15 May 2025 12:00:08 +0000 Bloomberg Bloomberg Starbucks has contacted private equity firms, technology companies and others as it considers options for its China business, including a possible stake sale, according to people familiar with the matter. The coffee chain sent out letters via a financial adviser to several potential investors this week to solicit views on the China business and how to grow it, the people said, asking not to be identified because the process is private. A transaction could value the assets at several billion... https://www.scmp.com/business/china-business/article/3310407/starbucks-kicks-process-sell-stake-its-sprawling-china-business-growth-stalls?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3310407/starbucks-kicks-process-sell-stake-its-sprawling-china-business-growth-stalls?utm_source=rss_feed Thu, 15 May 2025 03:34:42 +0000 Agence France-Presse Agence France-Presse Starbucks in South Korea has banned customers from using the names of the country’s presidential candidates – or the disgraced former president – for their orders, the coffee giant told AFP on Wednesday. South Korea is holding snap presidential elections on June 3, to decide who will replace impeached former president Yoon Suk-yeol, ousted last month for his disastrous attempt to impose martial law in December. In South Korea, Starbucks stores run a “Call My Name” service, which allows customers... https://www.scmp.com/news/asia/east-asia/article/3310301/south-koreas-starbucks-ban-use-presidential-candidates-names-orders?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3310301/south-koreas-starbucks-ban-use-presidential-candidates-names-orders?utm_source=rss_feed Wed, 14 May 2025 08:49:42 +0000 Agence France-Presse Agence France-Presse During his nine years living in the US state of Tennessee, Fahd, a Saudi national, found comfort and consistency at Dunkin' Donuts, where he placed the same order every day. Now back in Riyadh, Fahd is doing something similar, highlighting the Saudi Arabian love affair with all things American that many find surprising. “When I came here, thank God, the same cafe and same order were here too,” says the 31-year-old mechanical engineer, who does not want to give his family name. “I started living... https://www.scmp.com/lifestyle/food-drink/article/3309947/starbucks-dunkin-suvs-saudis-us-brands-and-culture-inseparable-part-life?utm_source=rss_feed https://www.scmp.com/lifestyle/food-drink/article/3309947/starbucks-dunkin-suvs-saudis-us-brands-and-culture-inseparable-part-life?utm_source=rss_feed Mon, 12 May 2025 03:30:06 +0000 Yuke Xie Yuke Xie As coffee chains in China struggle with a bitter combination of sluggish consumption and cutthroat pricing, Starbucks and Luckin Coffee regained momentum in the last quarter by focusing on lower-tier cities. Same-store sales were flat for Starbucks’ China operations in the quarter ended March 30, but a 4 per cent increase in transactions helped to offset a 4 per cent decline in the average tab, the company said last month. This came after the Seattle-based firm suffered an 8 per cent decline in... https://www.scmp.com/business/companies/article/3309735/starbucks-luckin-get-buzz-smaller-city-coffee-sales-china?utm_source=rss_feed https://www.scmp.com/business/companies/article/3309735/starbucks-luckin-get-buzz-smaller-city-coffee-sales-china?utm_source=rss_feed Sun, 11 May 2025 01:30:21 +0000 Yuke Xie Yuke Xie China’s coffee market is booming as aggressive expansion and price competition make the drink more accessible to the masses while a presidential endorsement helps to boost interest. As coffee culture spreads beyond the biggest cities and sheds its premium label, entrants with new business models and flavours are piling in, pushing existing players to rethink their strategies, according to industry insiders. A total of 66,920 coffee shops opened in the world’s second-largest economy over the past... https://www.scmp.com/business/banking-finance/article/3308826/china-adds-12000-coffee-shops-thirst-among-masses-grows-starbucks-suffers?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3308826/china-adds-12000-coffee-shops-thirst-among-masses-grows-starbucks-suffers?utm_source=rss_feed Sun, 04 May 2025 03:00:19 +0000 Associated Press Associated Press Much like its wild month of April, a scary Wednesday for Wall Street found a gentler ending as US stocks stormed back from steep early losses to continue their manic swings amid uncertainty about what US President Donald Trump’s trade war will do to the economy. The S&P 500 rose 0.1 per cent to extend its winning streak to a seventh day. The Dow Jones Industrial Average added 141 points, or 0.3 per cent, while the Nasdaq composite edged down by 0.1 per cent. It was a stunning reversal after the... https://www.scmp.com/news/world/united-states-canada/article/3308588/wall-street-sinks-following-signals-sputtering-us-economy?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3308588/wall-street-sinks-following-signals-sputtering-us-economy?utm_source=rss_feed Wed, 30 Apr 2025 14:00:44 +0000 Malaysians trust media outlets more even as their confidence in all other industries has declined, according to a new survey. The media industry rose by four points to 52 last year in the survey by Ipsos measuring the most trusted corporations and institutions in Malaysia. Noting the decline in the trust of Malaysians in various industries, Evelyn Tan, the interim country director of the market researcher, said on Thursday: “However, there are bright spots. The media industry is a notable... https://www.scmp.com/week-asia/politics/article/3304349/malaysians-trust-media-more-while-consumer-boycott-hits-confidence-survey?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3304349/malaysians-trust-media-more-while-consumer-boycott-hits-confidence-survey?utm_source=rss_feed Fri, 28 Mar 2025 12:10:01 +0000 A delivery driver has won US$50 million in a lawsuit after being seriously burned when a Starbucks drink spilled in his lap at a California drive-through, court records show. A Los Angeles County jury found Friday for Michael Garcia, who underwent skin grafts and other procedures on his genitals after a venti-sized tea drink spilled instants after he collected it on February 8, 2020. He has suffered permanent and life-changing disfigurement, according to his lawyers. Garcia’s negligence lawsuit... https://www.scmp.com/news/world/united-states-canada/article/3302542/us-man-who-got-genital-burns-starbucks-tea-wins-us50-million-lawsuit?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3302542/us-man-who-got-genital-burns-starbucks-tea-wins-us50-million-lawsuit?utm_source=rss_feed Sat, 15 Mar 2025 18:37:39 +0000 Berjaya Food Bhd.’s hundreds of Starbucks subsidiary outlets across Malaysia contributed to the company’s fifth straight quarterly loss after boycotts of US fast food brands over America’s support of Israel’s offensive in Gaza began last year. The company reported a net loss of 70.3 million ringgit for the six-month period that ended in December. As of June 30 2024, the unit operated 408 Starbucks cafes in the country, according to the company’s annual report. Berjaya does not break out its... https://www.scmp.com/news/asia/southeast-asia/article/3299578/starbucks-malaysia-keeps-losing-money-anti-israel-boycotts-persist?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3299578/starbucks-malaysia-keeps-losing-money-anti-israel-boycotts-persist?utm_source=rss_feed Fri, 21 Feb 2025 05:41:05 +0000 South Korea’s government will review the life cycle of paper straws over disputes on their eco-friendliness, as other countries begin steering away from their use. Its outcome is likely to determine whether the government will continue promoting paper straws. The review follows other governments and companies worldwide announcing their plans to go back to using plastic straws instead of paper straws, a turnaround from the trend that once favoured paper straws for their purported... https://www.scmp.com/news/asia/east-asia/article/3298817/south-korea-reconsider-using-paper-straws-global-shift-back-plastic-gains-momentum?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3298817/south-korea-reconsider-using-paper-straws-global-shift-back-plastic-gains-momentum?utm_source=rss_feed Sat, 15 Feb 2025 06:35:19 +0000 Fran Lu Fran Lu The coffee chain Starbucks’ latest policy to bar non-paying visitors at its North American outlets has prompted a heated discussion on social media in China. On January 13, the US chain announced the end of its “open-door” policy that allowed people to enter for shelter or toilet access. The policy was applied in 2018 after a US Starbucks outlet blocked two black men from accessing its toilet and called the police, causing a PR disaster. The policy was considered important, especially in places... https://www.scmp.com/news/people-culture/trending-china/article/3295008/us-starbucks-slaps-ban-toilet-use-non-patrons-raises-concerns-over-china-policy?utm_source=rss_feed https://www.scmp.com/news/people-culture/trending-china/article/3295008/us-starbucks-slaps-ban-toilet-use-non-patrons-raises-concerns-over-china-policy?utm_source=rss_feed Sun, 26 Jan 2025 06:00:10 +0000 As US president-elect Donald Trump prepares to take office on January 20, a pivotal moment in US-China relations is unfolding. One day before his inauguration, TikTok faces a shutdown under legislation requiring its Chinese parent ByteDance to divest or cease its US operations. Trump’s declaration last month that the United States and China “can together solve all the world’s problems” signals a reset in bilateral relations. He showed he was open to practical cooperation in his first term,... https://www.scmp.com/opinion/china-opinion/article/3294745/deal-maker-trump-business-cooperation-could-reset-us-china-ties?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3294745/deal-maker-trump-business-cooperation-could-reset-us-china-ties?utm_source=rss_feed Fri, 17 Jan 2025 12:30:07 +0000 Starbucks has stirred the coffee pot by reversing a policy that allowed anyone to use its bathrooms, with the US public warned they’ll need to buy something or get out. In a new code of conduct issued Monday for all company-owned North American stores, the hot drink behemoth said it wanted “to ensure our spaces are prioritised for use by our customers”. That includes the chain’s cafes, patios and restrooms, according to the policy, which Starbucks noted is something most retailers enforce. US... https://www.scmp.com/news/world/united-states-canada/article/3294795/starbucks-policy-shift-non-paying-visitors-stirs-debate-us?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3294795/starbucks-policy-shift-non-paying-visitors-stirs-debate-us?utm_source=rss_feed Wed, 15 Jan 2025 03:59:37 +0000 Bloomberg Bloomberg Starbucks hired its first-ever chief growth officer in China, tasked with luring back young coffee drinkers as the US chain struggles with cheaper local rivals in its biggest international market. Tony Yang, who has been on board since November, will pursue a strategy of brokering tie-ins with entertainment franchises and pop culture icons to market itself to consumers, Starbucks China said on Monday. The China product development, R&D, and marketing departments will all report to Yang, a former... https://www.scmp.com/business/china-business/article/3291007/concocting-plan-starbucks-hires-chief-growth-officer-china-reignite-sales?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3291007/concocting-plan-starbucks-hires-chief-growth-officer-china-reignite-sales?utm_source=rss_feed Mon, 16 Dec 2024 08:49:41 +0000 Zhou Xin Zhou Xin Apple, Tesla and Starbucks are among the most recognised US brands in China. Their presence not only represents business success stories, but also the broad goodwill that has existed between the two countries over the years. When people think about US-China mutual interdependence, a typical example could be an affluent Beijing or Shanghai consumer driving a Tesla vehicle, holding a Starbucks cup, and swiping on an iPhone. The chief executives of these companies have become goodwill ambassadors.... https://www.scmp.com/opinion/china-opinion/article/3288026/apple-tesla-and-starbucks-face-testing-time-china-under-second-trump-administration?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3288026/apple-tesla-and-starbucks-face-testing-time-china-under-second-trump-administration?utm_source=rss_feed Mon, 25 Nov 2024 23:00:08 +0000 Cao Li,Yuke Xie Cao Li,Yuke Xie The world’s largest coffee chain is seeking help in China to perk up its flatlining sales, as it finds its high-priced lattes and esoteric brews are increasingly out of step with changing consumption patterns and slowing growth in the world’s second largest economy. Starbucks is “working to find the best path to growth, which includes exploring strategic partnerships”, according to a statement from the Seattle-based company, amid talks that it is looking to sell a stake to a partner. Its sales... https://www.scmp.com/business/companies/article/3287574/starbucks-seeks-strategic-partnership-find-perk-china-amid-brewing-price-war?utm_source=rss_feed https://www.scmp.com/business/companies/article/3287574/starbucks-seeks-strategic-partnership-find-perk-china-amid-brewing-price-war?utm_source=rss_feed Thu, 21 Nov 2024 10:49:52 +0000 Chinese milk tea chain Chagee is facing the ire of Malaysians after the company urged customers to remove posts of a TikTok video appearing to show staff tampering with a lucky draw to win luxury handbags and top-end electronic products for themselves. To commemorate its 7th anniversary last week, Chagee offered luxury handbags from Louis Vuitton and Gucci, and Apple mobile phones, laptops and tablets through ‘Tear & Win’ coupons hidden inside the company’s iconic blue and white cups. The... https://www.scmp.com/week-asia/economics/article/3287349/anger-brews-malaysia-over-chinese-milk-tea-giant-chagees-response-rigged-contest?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3287349/anger-brews-malaysia-over-chinese-milk-tea-giant-chagees-response-rigged-contest?utm_source=rss_feed Wed, 20 Nov 2024 06:33:59 +0000 Tycoon Vincent Tan, once Malaysia’s richest man, is grappling with a decline at his Starbucks chain as the country’s pro-Palestinian boycott of the coffee giant shows no signs of abating. Malaysia’s largest bank Maybank has warned that the coffee brand is likely to suffer from long-term slumping sales due to entrenched consumer sentiment. Berjaya Food Berhad (BFood), the local licensee of Starbucks, reported a pre-tax loss of 31.82 million ringgit (US$7.1 million) in its latest quarterly results... https://www.scmp.com/week-asia/economics/article/3286991/starbucks-malaysia-confronts-long-terms-sales-decline-anti-israel-boycott?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3286991/starbucks-malaysia-confronts-long-terms-sales-decline-anti-israel-boycott?utm_source=rss_feed Mon, 18 Nov 2024 04:09:50 +0000 Starbucks is preparing to open a new branch at a watchtower near South Korea’s border with its nuclear-armed neighbour, offering customers a view of the hermit kingdom. The American chain’s outlet on the second floor of the Jogang Observatory will be 1.4km (1,531 yards) from the frontier dividing the two Koreas. The 10-seater store in the city of Gimpo in Gyeonggi province will open on November 27 and offer customers sitting by its windows a glimpse into North Korea’s Kaepung county. The... https://www.scmp.com/week-asia/lifestyle-culture/article/3285319/starbucks-serves-glimpses-north-korea-new-cafe-near-border?utm_source=rss_feed https://www.scmp.com/week-asia/lifestyle-culture/article/3285319/starbucks-serves-glimpses-north-korea-new-cafe-near-border?utm_source=rss_feed Wed, 06 Nov 2024 01:00:13 +0000 New York had a night to remember when the Victoria’s Secret Fashion Show returned after a six-year hiatus. Despite once being the pinnacle of runways, with the likes of Gisele Bündchen, Miranda Kerr and Naomi Campbell donning their “Angel” wings for the show, it was cancelled after its 2018 iteration. Among the reasons for this were declining ratings, a backlash against the brand amid the #MeToo movement and “insensitive” remarks by Ed Razek, then chief marketing officer of L Brands, the... https://www.scmp.com/magazines/style/entertainment/article/3284726/meet-valentina-sampaio-trans-model-who-made-history-victorias-secret-show-gigi-hadid-kate-moss-and?utm_source=rss_feed https://www.scmp.com/magazines/style/entertainment/article/3284726/meet-valentina-sampaio-trans-model-who-made-history-victorias-secret-show-gigi-hadid-kate-moss-and?utm_source=rss_feed Fri, 01 Nov 2024 10:00:18 +0000