Luckin Coffee: Uncovering the MASSIVE Fraud Behind China's Starbucks Rival
When it comes to coffeehouses, Starbucks is by far and away the market leader with more than 33,800 stores globally!
While the main portion of those outlets are based in the US, as you’d expect, the Seattle-based company has been growing faster in China than anywhere else in recent years. The rate of growth has been so rapid in fact, Starbucks is now competing with Subway and McDonald’s to become the most dominant Western food chain in the world!
At one point, Starbucks had plans to open a new store in China every fifteen hours, and as of 2022, there were more than 6,000 outlets in the country with no signs of slowing down! Clearly, there was a gap in the growing Chinese market for commercialized coffee but Starbucks’ dominance would not go unchallenged forever.
In 2017, a home-grown rival emerged offering convenience and affordability that posed a significant threat to the American giant. In just two years, this rival company even managed to surpass the number of Chinese outlets it had taken Starbucks more than twenty years to establish. Things appeared to be going well for the newcomer. The only problem was, this new company was not entirely legitimate!
Grab yourself a cup of coffee and get settled in because this is the story of Luckin Coffee, the Chinese company that dared to challenge the twin-tailed mermaid!
In today's video we look at Luckin Coffee: Starbucks Rival in China Built on Fraud!
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