Regarding the personnel changes at Starbucks, Starbucks China confirmed that "the personnel adjustments at Starbucks headquarters do not involve the Chinese market."
At present, Starbucks has surpassed 7,000 stores in the mainland Chinese market and is confident in continuing to be a leader in China's high-end coffee market.
On March 21, Starbucks launched a brand-new retail channel in China called "Starbucks Curbside" through its collaboration with Alibaba-backed web navigation company AutoNavi, providing orders to customers on the go.
On February 2, American multinational coffeehouse and roastery chain, Starbucks, reported its financial results for its 13-week fiscal first quarter ended January 1. Its global comparable store sales increased by 5%, but comparable store sales in China decreased by 29%.
Cotti Coffee, a new coffee brand created by Luckin Coffee's original core team, opened its first store in Shanghai in November, situated next to an outlet of its competitor, Starbucks. The coffee brand is also the sponsor of Argentina, the 2022 World Cup champion.
Jasper Luo, former president of Umeng+, an Alibaba-backed startup providing mobile app analytics solutions for mobile development teams and individual developers, reportedly joined Starbucks China earlier this year as CTO.
Faced with pressure from competitors such as Luckin Coffee and Tims China, Starbucks, which has always been known for its reserved attitude towards China, has been changing its strategy for tackling the country's domestic market.
It has been more than a month since the Chinese business of Canadian coffee chain Tim Hortons went public on the Nasdaq, but so far, the coffee company that is trying to become the second Starbucks has not performed well in the US stock market.
On October 11, Starbucks China announced to employees that Belinda Wong, the chairwoman of the firm, was re-appointed as CEO, and Leo Tsoi, the current CEO, will serve as a consultant to the Chinese management team over the next three months.
The Chinese business division of Canadian coffee chain Tim Hortons will officially commence trading on the Nasdaq on September 29. Proceeds from the listing will be used to expand its coffee business in China.
On September 14, Starbucks's China division officially released its 2025 China Strategic Vision, launching a new value-oriented growth plan featuring heavy investment in the country.
This week: China's Communist Youth League launches NFTs, crypto mining rig maker Canaan added to SEC list of scrutinized Chinese companies, Regal Hotels to launch virtual conference center in the metaverse, and more.
Coffee chain Manner Coffee announced last Sunday that it will launch delivery services in Beijing, Shanghai, Shenzhen and other cities by cooperating with food delivery giant Meituan.
