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⚔️ “The Great Coffee Takeover” — Luckin’s Starbucks-killer. Airlines’ new auto-refunds. Hermes’ Birkin Bag mafia.
Nov 1, 2024
Hermes is facing a lawsuit over its exclusive Birkin bag hustle while still dominating the luxury market. Luckin Coffee is poised to take on Starbucks with its aggressive expansion into the U.S. Meanwhile, airlines are now required to automatically refund passengers for canceled flights, a big win for consumers. Plus, discover a top bar in Mexico City offering cocktails at half the price of those in NYC. Exciting developments are reshaping the business landscape!
22:56
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Quick takeaways
- Luckin Coffee's aggressive expansion into the U.S. market threatens Starbucks, prompting considerations for Starbucks to withdraw from China entirely.
- Hermes continues to thrive amidst legal challenges over its exclusive Birkin bag access strategy, contrasting sharply with other luxury brands' more accessible approaches.
Deep dives
Luckin Coffee's Disruption
Luckin Coffee is rapidly expanding its presence in the United States and poses a significant threat to Starbucks. After experiencing a scandal and subsequent recovery, Luckin has opened 8,000 locations in China within a year, far surpassing Starbucks' historical growth in the region. This aggressive expansion strategy includes targeting U.S. cities with large Chinese populations, which bodes ill for Starbucks as they struggle with declining sales. Starbucks is encouraged to consider withdrawing from the Chinese market entirely, mirroring how Uber exited China, which ultimately allowed it to focus on growth in other regions.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode