Big Take Asia The Chinese Coffee Chain Beating Starbucks
Jul 9, 2024
Luckin Coffee, once bankrupt, now beats Starbucks in China with automated stores and local tastes. Can it sustain success amidst competition? Discussing Luckin's remarkable turnaround and innovative approach in the Chinese coffee market.
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Tasting Luckin's Drinks
- K. Oanh Ha and Rachel Chang tried Luckin's coconut latte and Maotai latte.
- These popular drinks exemplify Luckin's innovative approach and appeal to local tastes.
Luckin's Rise
- Luckin Coffee, founded in 2017, has overtaken Starbucks as China's top coffee retailer.
- This rapid growth is remarkable, especially after Luckin's 2020 bankruptcy filing.
Luckin's Founding
- Luckin Coffee was founded by Lu Zhengyao and Qian Zhiya, initially executives at a car rental company.
- Qian Zhiya had the idea, and Lu invested, showing his support and becoming a co-founder.