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Coffee Upstart Luckin Plans to Overtake Starbucks in China This Year

From caixinglobal.com

Luckin Coffee says it aims to overtake Starbucks and become China’s biggest coffee chain, with over 4,500 shops by the end of 2019.

The coffee upstart officially launched in early 2018 and offers app-only ordering. To lure users, Luckin offers heavy discounts that make its coffee much cheaper than its competitors’.

Luckin has opened 2,000 shops and sold 85 million cups of coffee to 12 million Luckin app users within the past year. At a press briefing in Beijing today, the company said it aims to open 2,500 new shops in 2019.

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