This Chinese café startup aims to best Starbucks with “new retail” strategy

©Luckin Coffee

Luckin Coffee has gone from scratch to China’s first coffee shop unicorn in less than a year, pouring more than 5 million cups of coffee along the way

In July 2018, Chinese startup Luckin Coffee closed a Series A funding round worth US$200 million, which made the nine-month-old brand China’s first coffee shop unicorn. Founded in October 2017, Luckin Coffee has aggressively elbowed its way into China's café market. During its soft opening, Luckin launched more than 500 stores in 13 first- and second-tier cities. By comparison, it took Seattle-based café chain Starbucks more than a decade to open 500 stores on the Chinese mainland. Luckin sees Starbucks as its biggest competitor. And for good reason: Starbucks has cornered...
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Edited by Wang Xinlei , Wendy Lovinger

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