The Best One Yet ⚔️ “The Great Coffee Takeover” — Luckin’s Starbucks-killer. Airlines’ new auto-refunds. Hermes’ Birkin Bag mafia.
12 snips
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!
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Luckin Coffee's Rise
- Luckin Coffee, initially a ghost kitchen in China, rapidly expanded to 22,000 locations.
- Their low prices and rapid growth are challenging Starbucks in China and now they're entering the US.
Starbucks' China Retreat
- Starbucks should quit their China business, like Uber did in 2016.
- This allows reinvestment in stronger markets like the US and Europe.
Hermes' Scarcity Model
- Hermes's success is driven by its focus on scarcity, unlike other luxury brands.
- Their limited production and waitlists create exclusivity, driving demand and high valuations.
