Luckin Coffee China Stores
Luckin Coffee China Stores. Luckin coffee was one of the top coffee brands in china and was drawing comparisons to the global coffee giant starbucks, with “selling points” such as the fact that: It has more than 6500 stores around china, which is something!
But seeing luckin as a starbucks copycat would be a misnomer; As an indigenous brand, it is fitting in china’s own coffee culture, and trying to. Over the past 2 years, luckin has gone from 1 store to 2,400 locations across the country.
Qian founded luckin coffee in 2017, a homegrown coffee startup that has turned into starbucks china’s biggest challenger.
Luckin coffee however, has managed to find something no one else is doing. But seeing luckin as a starbucks copycat would be a misnomer; In china, the most basic drink is an americano, usually priced at rmb 20.
While hey tea(喜茶), nayuki(奈雪), and several other new small chains are.
Over the past 2 years, luckin has gone from 1 store to 2,400 locations across the country. It didn’t take long before luckin was the predominant coffee chain in china, surpassing starbucks’ store count as the u.s. Based cafe chain struggled to do the very thing luckin was doing with rabid success.
This method enabled luckin coffee to raise the right amount of money to promptly establish thousands of stores across china before going public by a usd 640 million ipo in may 2019 on the nasdaq.
As an indigenous brand, it is fitting in china’s own coffee culture, and trying to. Luckin opened its first store in beijing in 2017, 18 years after starbucks did. On the luckin coffee mobile app, there are two stores in development at beijing’s daxing international airport, which is set to open at the end of the month, as well as one outlet poised to open at shenzhen bao’an airport, one of the busiest airports in mainland china.
Luckin coffee appears to be regaining momentum as it battles to normalise its business in the wake of the pandemic and a major company restructure.
If that sounds too good to be true, it’s because it is. Another interesting finding is that the company’s ipo documents insist on luckin coffee’s new retail business model , rather than on its f&b products. It has more than 6500 stores around china, which is something!
I was pretty surprised to find this one!wanna buy me a luckin coffee?
According to an article published by caixin, luckin coffee has reached a total of 4,500 stores in china in the end of 2019, roughly two hundred more than the 4,300 stores starbucks has. The chain is no longer bigger than starbucks, but it remains a clear second. Although luckin became notorious in early 2020 for cooking its books through fabricated sales, the chain has still seen immense growth in its home market of china and domestic sales have continued unabated.
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