Domestic coffee chain outranking Starbucks in China
Domestic Luckin Coffee surpassed Starbuck’s 5,550 stores in China with over 6,000 stores by the end of 2021.
If you would ask a Chinese consumer today what “Luckin Coffee” stands for, they will probably talk about Luckin's popular “Coconut Latte” or Luckin’s ambassador Eileen Gu, China’s Winter Olympic superstar.
The fact that the Chinese coffee chain was notorious and punished for major financial fraud only 2 years ago is a distant memory for only some. At that time pronounced the end of Luckin Coffee.
Read in detail about Luckin’s resurrection during the past 2 years here :
Despite being ‘the home of tea’ and Chinese people ‘only’ drink 6.2 cups of coffee per capita annually, China’s coffee consumption rates have been growing by about 30% per year (globally about 2%) and the coffee market in China has grown ten-fold during the past 14 years.