07:10 AM EDT, 06/11/2025 (MT Newswires) -- Starbucks ( SBUX ) has drawn "a lot of interest" in its move to explore a partnership with outside investors for a minority stake in its China business, The Financial Times reported Wednesday, citing an interview with Chief Executive Brian Niccol.

Niccol said the company seeks to restore growth in China, its second-biggest market globally, according to the report. As of end March, Starbucks ( SBUX ) operates 7,758 stores in China and aims to expand to 20,000, the FT quoted Niccol as saying.

Revenue from China has declined from $3.7 billion in 2021 to $3 billion in 2024, despite continued store openings, the report said.

Goldman Sachs ( GS ) is leading the process, with potential investors including both Chinese and global private equity firms, the media outlet reported.

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