Luckin Coffee

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Luckin Coffee
Native name
瑞幸咖啡
Private
FoundedOctober 2017 (2017-10)
FounderJenny Qian Zhiya
Headquarters,
Number of locations
1,700 (2018)
ProductsCoffee
Websitewww.luckincoffee.com

Luckin Coffee (Chinese: 瑞幸咖啡; pinyin: Ruìxìng Kāfēi) is a chain of coffee shops in China.[1][2]

The company was founded in Beijing in October 2017.[3] Most of its outlets are small booths that fill online orders for pickup or delivery. It is considered to be a competitor to Starbucks in China. It intends to open another 2,000 by the end of 2018. By comparison, Starbucks has approximately 3,000 stores shops in China.

According to the company's spokesperson, Luckin raised new investor funding in the amount of US$200 million in December 2018. The company now has a valuation of over two billion dollars.

References[edit]

  1. ^ "China's Luckin Coffee takes on Starbucks". Cnbc.com. Retrieved 28 December 2018.
  2. ^ "This coffee company thinks it can beat Starbucks in China". Cnn.com. Retrieved 28 December 2018.
  3. ^ "Luckin Coffee, China's Newest Unicorn, is Challenging Starbucks' Market Stranglehold". Radiichina.com. 26 July 2018. Retrieved 30 December 2018.