Häagen-Dazs, Starbucks Mull Overhauls in China to Fend Off Powerful Local Rivals
The consumer landscape in China was very different in the 1990s, when Häagen-Dazs and Starbucks ventured in with premium products that were alien to most people. They made huge inroads nonetheless, opening outlets at breakneck pace and raking in revenue. But times are changing, and they, like many other Western brands, are reassessing their approach to the world's second-biggest economy, including possibly selling their businesses.
General Mills, which owns Häagen-Dazs, is working on a potential sale of its more than 250 stores in China. Starbucks Corp. is sounding out interest in its business in the country, where it has over 7,750 outlets. Sporting goods retailer Decathlon SA has started a process to sell about 30% of its China business.
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