Luckin Coffee's Meteoric Rise

Luckin Coffee experienced a remarkable transformation, initially starting in 2017 with the aim of catering to the limited coffee consumption in China. Recognizing the local market's needs, Luckin focused on mobile ordering and positioned its stores as convenient pick-up points rather than traditional cafes, facilitating rapid growth. By the time of its initial public offering in 2019, it had opened over 4,500 stores across the country, leveraging a business model that prioritized efficiency and cost-effectiveness. This approach allowed Luckin to sell premium coffee at mass-market prices, appealing to a fast-paced, coffee-drinking demographic.