Starbucks Appoints First-Ever China Chief Growth Officer to Tackle Declining Sales

Tony Yang will lead efforts to revitalize Starbucks' China business through partnerships, product innovation, and enhanced customer experiences as the company faces mounting competition and economic challenges.

• Starbucks has hired Tony Yang as its inaugural chief growth officer for China, aiming to reverse declining sales in its second-largest international market.
• Yang, who joined in November, will focus on building partnerships with entertainment brands, developing new coffee products, and improving customer experiences.
• The company has faced a 14% drop in comparable store sales in China during the last quarter, with revenue declining 7% year-over-year to $784 million.
• Local competitor Luckin Coffee has surpassed Starbucks in annual China sales, offering more affordable drinks and a larger store footprint.
• Economic pressures, changing consumer habits, and increasing anti-U.S. sentiment are additional challenges Starbucks is navigating in the region.

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