Starbucks' Departing Chairman Backs China Prospects, Hints At Alibaba Tie-Up
Starbucks Corp's outgoing Executive Chairman Howard Schultz said on Monday that a recent slowdown in China would be short-lived, seeking to salve investor concerns that the U.S. coffee chain is under pressure in the fast-growing market.
Schultz also hinted at a potential tie-up with e-commerce giant Alibaba Group Holding Ltd's billionaire founder Jack Ma, that could help rev up online coffee sales for the chain in China.
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