CX Briefing: Interest in Starbucks’ China Business Percolates

A rundown of the news making headlines in and around China:

Starbucks sale brewing: Starbucks Corp. CEO Brian Niccol said more than 20 institutions have shown significant interest in acquiring its China business. Speaking on a quarterly earnings call Tuesday, Niccol said the coffee retailer has been looking for a strategic partner “to help us capture future growth opportunities in China.” The firm is evaluating options and plans to retain a “meaningful stake” in the China business. The Seattle-based company recently signaled a shift in its China strategy from looking for a partner to courting buyers, Caixin reported in June. Starbucks China held preliminary talks with more than 10 potential buyers, including private equity firms Hillhouse Capital Group, FountainVest Partners Co. Ltd. and Trustar Capital, according to sources familiar with the matter.