April 27, 2020 / 2:35 AM / a month ago

Starbucks says in partnership with Sequoia Capital China for investments

FILE PHOTO: A staff member is seen at Starbucks at the Beijing Daxing International Airport, as the country is hit by an outbreak of the novel coronavirus, in Beijing, China February 20, 2020. REUTERS/Tingshu Wang

BEIJING (Reuters) - Starbucks (SBUX.O) on Monday said it has entered a strategic partnership with investment firm Sequoia Capital China that will see the two companies make strategic co-investments in China’s technology sector.

The U.S. coffee giant said in a statement that the partnership will create opportunities for it to evolve its business in China and the two will also be able to obtain early access to ideas in the retail marketplace.

Reporting by Brenda Goh and Sophie Yu; Editing by Tom Hogue

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