In Depth: Starbucks, Burger King Overhaul China Strategies

Starbucks Corp. and Burger King Corp. are rethinking their China strategies as they work to stay relevant in the country’s increasingly saturated and competitive food and beverage market.

In early 2024, Starbucks floated the idea of seeking new strategic investors for its China business. The move came after two straight quarters of declining revenue and same-store sales in the market. The process stalled that August when then-CEO Laxman Narasimhan was ousted. His successor, Brian Niccol, turned his focus back to the U.S. and hit pause on China, previously saying he needed to “spend time there to better understand” the local market.