Luckin Coffee hit 10,000 stores in China in June, surpassing Starbucks as the largest coffee chain brand in the country following rapid nationwide expansion this year.
Vivian Leung, an office worker residing in Guangzhou, said that there are at least two Luckin Coffee outlets within 50 meters from her apartment.TIANJIN, CHINA - 2023/07/24: Customers are waiting in front of the counter.
"Luckin stores are also of a smaller format compared to Starbucks, which has much larger stores," said Maheshwari. Last Tuesday, the company launched a new drink with Kweichow Moutai, a Chinese liquor maker famed for its"baijiu," or white liquor made from rice grains.Moutai, sometimes called maotai, is a premium distilled Chinese liquor and has been dubbed the"national liquor of China."by valuation consultancy Brand Finance.
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