Luckin Coffee China Stores. In a market that has been dominated by starbucks for two decades, luckin is catching up fast. The startup has opened 2,370 stores nationwide in 18 months and plans to open 2,500 more stores this year.
Goats and soda in less than two years, the chinese brand has opened 2,300 stores — second in china only to starbucks. In just three years, it has opened more than 4,500 stores, surpassing starbucks and becoming the largest coffee chain in china. Luckin coffee's () rise and fall has captivated investors.
The luckin coffee fraud scandal was a great morality tale for markets, and more needs to be done to protect american investors from such cases, said an analyst, who said a bill to delist chinese.
By the end of the year, the company managed to open over 300 stores and they’re planning on opening 200 more before may 2018. Is opening stores at a breakneck pace in china and pledging internal company change as it tries to move beyond an escalating scandal involving $310 million in fraudulent sales. The luckin saga continues as the chinese coffee challenger seeks solutions to the undesirable consequences of a $310 million fraud. While starbucks is luckin’s main competitor in the coffee market, there are at least a dozen famous tea brands across china.