Founded in October 2017 by Chinese entrepreneur Jenny Qian Zhiya, Luckin Coffee has come a long way in a short time to challenge Starbucks’ dominance of the coffee beverage market in China. Luckin is the first large-scale threat to Starbucks’ coffee franchise built over two decades. Instead of spacious lounges that allow coffee drinkers to linger, Luckin focuses on efficient “delivery kitchens” that pump out coffee fixes to people on the go. The Luckin latte had “more of an original coffee aroma and taste,” declared Youtuber TechZG in his video entitled “Is Luckin Coffee About to Defeat Starbucks?” Luckin says it served 12 million customers 85 million cups of coffee last year. “A lot of people don’t like waiting in line,” says Ben Cavender, director of Shanghai-based consultancy China Market Research.

Source: Forbes March 18, 2019 03:11 UTC