Starbucks buys back control of stores
By Tang Zhihao | China Daily | Updated: 2011-06-03 08:12
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Customers sit outside a Starbucks coffee shop in Shanghai. Aiming to secure stronger control and better execution, the retailer has bought back the ownership of cafes from its partners in some provinces in China. Kevin Lee / Bloomberg |
SHANGHAI - The US-based coffee retailing giant Starbucks Coffee Company announced on Thursday that it is to acquire full ownership of all its stores in China from joint venture partner, Maxim's Caterers Ltd.
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