Category Archives: 7-eleven

Why Luckin’s ultimate target may not be Starbucks

Starbucks plans to double its store count in China to 5,000 in 2021 and Luckin, a one-year-old coffee startup, is matching up by aiming to reach 4,500 by the end of this year. Luckin’s upsized $651 million flotation has brought American investors’ attention to this potential Starbucks rival in China, where the Seattle giant controlled over half of the coffee market as late as 2017. But as soon as you make your first purchase with Luckin, you realize its ultimate goal may not be to topple Starbucks. […]

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