Starbucks may seek out local partnership amid stiff beverage rivalries

Starbucks Corp is reportedly exploring strategic opportunities for its China operations, including potential partnerships or a partial stake sale, to reinvigorate growth in its second-largest market.

On Tuesday, the US coffee giant told Chinese media outlet Jiemian News that it remains "firmly committed" to the Chinese market and is "evaluating the best ways to capture future growth opportunities".The company said its focus is on revitalizing business and maintaining positive momentum.

The comments followed market reports on Monday that several high-profile investment firms — including Hillhouse Capital, Carlyle Group and CITIC Capital — recently participated in a reverse management road show for Starbucks China.