Coffee wars brewing in China

Luckin, which listed on the Nasdaq stock exchange in May at a valuation of US$4.2 billion (S$5.7 billion), bills itself as "the world's fastest company from establishment to IPO (initial public offering)".
Luckin, which listed on the Nasdaq stock exchange in May at a valuation of US$4.2 billion (S$5.7 billion), bills itself as "the world's fastest company from establishment to IPO (initial public offering)".PHOTO: AFP

Starbucks faces off with domestic rival Luckin in battle for country's booming coffee market

For self-avowed coffee addict Guo Liying, 33, home-grown Luckin Coffee has been a godsend.

The human resource officer has, for the past year, switched from Starbucks to the Luckin kiosk in her office building in Beijing's Sanlitun district for her daily latte fix.

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A version of this article appeared in the print edition of The Sunday Times on July 21, 2019, with the headline 'Coffee wars brewing in China'. Print Edition | Subscribe