Starbucks has a Venti-sized problem in China. Having virtually created the mainland coffee shop market over the past 25 years, the Seattle-based coffee group is no longer the only latte in town.
Competition from foreign and local brands is stiff. China’s economy is slowing and consumers are more cautious. The result: despite investing heavily over the past six years to more than double its store count in the country, Starbucks has lost almost half of its market share.
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