Chinese startup Luckin Coffee has set its eyes on dethroning American provider Starbucks and the company is determined to do fulfill its grand dream before the year ends.
The Sydney Morning Herald reported that Luckin Coffee is confident of its strategy that sees the rise of small outlets across the country. Furthermore, it has an app that provides deliveries in as early as 18 minutes.
The coffee chain believes that if it continues to build new outlets before the end of this year, it could overtake Starbucks as China's leading coffee provider. Aside from fast delivery, it has a set of great discounts for coffee lovers who want to save some cash for the same quality coffee.
Multiple outlets have revealed that Luckin Coffee is spending around $181 per year as it continues to chase the dream of ousting Starbucks.
In a recent interview, Luckin Coffee's chief strategy officer Reinout Schakel said, "China is Starbucks' best and most profitable market now, but it took them nine years of making a huge loss. We will be faster than that."
Starbucks has been dominating the Chinese market over the past couple of years. No competitor made it to the level that the American coffee brand has set. In the case of Luckin Coffee, some experts believe there is a chance the Seattle-based coffee giant will be pressured enough to consider the Chinese startup as a rival.
The two coffee companies have similar products but the difference is in what they take pride in. Starbucks is known for its cafes that make customers feel they can rest and cozy up after a hard day's work. Luckin Coffee, on the other hand, is gaining popularity for ease of access. Customers can just use the app to order their coffee - minus the need to get in line and explain their order at the counter.
In China, Starbucks is still number one but Luckin Coffee is not giving up. Late last week, Caixin Global reported that the company is now offering four lunch items, adding a diversifying touch to its portfolio.
According to the outlet, Luckin Coffee now includes tuna salad and Szechuan pulled chicken noodles on its menu. So far, the latest additions are available in six Chinese cities. Salads are set to be offered in other branches but no dates and specific locations have been provided yet.
Luckin Coffee was founded in October 2017 in Beijing. The coffee chain has plans of adjusting its discount rates both for customer satisfaction and business needs.
