The coffee chain considers strategic options for its Japan business, including a stake sale or public listing, amid strong market performance.
Starbucks is evaluating options for its Japan operations, including a potential stake sale or initial public offering, as part of a broader strategic review. The unit, valued between $2.5bn and $3.3bn, operates 2,100 stores, most company-owned, making it one of the chain’s largest markets outside the U.S.
The company recently divested a majority stake in its China retail business to Boyu Capital in April. Japan’s performance was described as “outstanding” in the last quarter, driven by tourism, seasonal demand, and new product launches. Early discussions with investment banks are underway, though no final decisions have been made.
Potential buyers include sector peers and private equity firms. Starbucks entered Japan in 1995 and delisted the unit in 2015 after acquiring full control. Globally, the chain reported a 6.2% rise in comparable store sales in Q2, with shares up 16% year-to-date.