Starbucks Competitor In China Takes Market Battle To Middle East, India

July 22, 2019: 12:00 AM EST

Flush with cash after raising $645 million through a U.S. IPO in May, Chinese coffee company Luckin Coffee is partnering with Kuwait-based Americana Group, which runs 1,900 franchises across the Middle East for several fast food brands, to set up a coffee retail business in the Middle East and India. Luckin and Americana signed a memorandum of understanding in Beijing; they will run the new coffee business as a joint venture. Luckin Coffee is a major competitor of Starbucks in China, opening thousands of stores in the past two years and relying on technology for orders, deliveries and payments to give it an edge. The company has about 3,000 stores in 40 Chinese cities and plans to increase that number to 4,500 by the end of this year. Starbucks has a little under 3,800 stores in China. Starbucks has 202 stores in Dubai, 191 in Saudi Arabia, and 151 in Kuwait, as well as 146 stores in India, where it has partnered with conglomerate Tata.[Image Credit: © www.luckincoffee.com]

Rishi Iyengar, "China's Luckin Coffee is taking on Starbucks in more big markets", CNN Business, July 22, 2019, © Cable News Network.Turner Broadcasting System, Inc.

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