Starbucks Sells Majority Stake in China Operations for $4 Billion. Starbucks is scaling back in China — selling control of its operations to investment firm Boyu Capital in a deal worth around $4 billion. Under the agreement, Boyu will take up to 60% ownership of Starbucks' retail business in China, while Starbucks retains 40% and continues to license its brand and intellectual property. The move comes as Starbucks faces intense competition from fast-growing Chinese rivals like Luckin and Cotti Coffee whose lower prices have cut deeply into its market share — down from 34% in 2019 to 14% last year. Despite that, Starbucks expects the sale, plus licensing fees over the next decade, to bring in more than $13 billion. Analysts say the brand is betting on its strength as a premium social coffee space rather than entering a price war. Shares of Starbucks rose about 3% in after-hours trading following the announcement. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT