Chinese rival to Starbucks pursues growth at expense of profit更新于2018年9月27日 11:31 By Tom Hancock in Shanghai
Luckin Coffee, a Chinese chain that has become the country’s first coffee shop valued at $1bn, says it is not worried about profits as it moves to challenge US rival Starbucks’ dominant position in the country’s fast-growing market.
Starbucks had an 80 per cent share of China’s $3.4bn coffee shop market last year, according to Euromonitor. The market research consultancy expects the sector to generate revenues of $4.1bn by 2020, making China a key growth market for coffee chains.