Starbucks announced on Monday a strategic joint venture with Chinese investment firm Boyu Capital, aimed at strengthening its retail operations in China. Under the agreement, Boyu will acquire a 60% stake in Starbucks’ Chinese retail business, valued at $4 billion, while Starbucks retains a 40% interest and continues to own and license its brand. The deal brings the total value of Starbucks’ China operations to over $13 billion, encompassing the sale proceeds, its retained stake, and future royalties.