Starbucks is set to sell a majority stake, 60%, of its China business to private equity firm Boyu Capital. The deal is close to approval by China’s antitrust regulator, which said on January 21 the sale qualifies for fast track review. This deal covers over 8,000 Starbucks stores on the mainland. To keep up with fierce competition and changing tastes, Starbucks is pushing live streaming sales on platforms like Douyin, offering big discounts such as three peach lattes for 84.90 yuan (about $12). Despite these efforts, many Chinese consumers are turning away from Starbucks due to high prices. Social media users on RedNote often say, "I have stopped going to Starbucks anyway," recommending cheaper local brands like Luckin or Mixue instead. Since Starbucks entered China 26 years ago, the market has changed drastically. Chinese customers are now wealthier but more selective with their spending. The Starbucks move signals a major shift in how Western brands operate in China’s tough and evolving consumer landscape.