only a year ago, launched a Chinese coffee-house chain Luckin want to snatch Starbucks for market leadership in the country. The provider is planning to open this year and 2500 new shops and to displace the U.S. chain to the second rank.

Overall, the Chinese Startup would then have 4500 coffee houses, the US group comes to 3600. However, Starbucks has announced in December 2018 to its presence in China expand. According to the plans to serve in the next four years, around 6000 stores in 230 cities coffee.

Luckin has developed for Starbucks to be the strongest competitor in the people’s Republic. The US group took the coffee-house culture, in 1999 to China and it took 20 years for the construction of its present branch network. Meanwhile, the business in the second largest economy in the world after the United States to the growth drivers of the world market leader.

Tax erkauftes growth

Luckin invested heavily in the planned Expansion and also losses. Is started, the Chinese coffee chain only a year ago and down since then, rapid growth.

in Particular, with discounts Luckin attracts customers. “What we want at the Moment is size and speed,” said Luckin chief market strategist Yan Fei. “It makes no sense to talk about profit.” In the past year, the Minus amounted to the equivalent of around 100 million euros.

Luckin of the state Fund GIC of Singapore and the Chinese investment Bank CICC is Supported. In the last funding round, the company gathered $ 200 million from investors. In order Luckin is valued at 2.2 billion dollars.

brt/Reuters